Knight-Swift Transportation (NYSE:KNX) Releases Q1 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.190-0.200 for the period, compared to the consensus estimate of 0.290. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Susquehanna reduced their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a research note on Thursday. Stephens reduced their target price on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a research note on Thursday. TD Cowen reduced their target price on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus dropped their price target on shares of Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Knight-Swift Transportation has an average rating of Moderate Buy and an average price target of $57.77.

Knight-Swift Transportation Trading Down 1.3 %

Shares of KNX stock opened at $47.88 on Friday. Knight-Swift Transportation has a 1 year low of $45.73 and a 1 year high of $60.99. The firm’s fifty day simple moving average is $54.83 and its 200 day simple moving average is $54.19. The firm has a market capitalization of $7.73 billion, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. As a group, sell-side analysts predict that Knight-Swift Transportation will post 2.3 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.34%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s payout ratio is 48.12%.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total value of $112,480.00. Following the sale, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP bought a new stake in Knight-Swift Transportation in the 4th quarter valued at $33,000. Brown Brothers Harriman & Co. boosted its stake in shares of Knight-Swift Transportation by 543.2% in the 1st quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 793 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Knight-Swift Transportation in the 2nd quarter valued at $61,000. Belpointe Asset Management LLC boosted its stake in shares of Knight-Swift Transportation by 21.8% in the 1st quarter. Belpointe Asset Management LLC now owns 1,285 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 230 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Knight-Swift Transportation by 13,727.3% in the 3rd quarter. Lazard Asset Management LLC now owns 1,521 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 1,510 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.