Knight-Swift Transportation (NYSE:KNX) Updates Q2 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.26-0.30 for the period, compared to the consensus earnings per share estimate of $0.48. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $47.88 on Friday. The firm has a market cap of $7.73 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The firm’s fifty day moving average is $54.83 and its 200-day moving average is $54.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. Knight-Swift Transportation has a 52 week low of $45.73 and a 52 week high of $60.99.

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

Knight-Swift Transportation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Thursday, March 7th. 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%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KNX. Stifel Nicolaus dropped their target price on shares of Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating on the stock in a report on Thursday. Barclays dropped their target price on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating on the stock in a report on Thursday. TD Cowen dropped their target price on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday. Loop Capital lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and dropped their target price for the company from $63.00 to $53.00 in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $57.77.

Insider Activity

In other news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Knight-Swift Transportation during the fourth quarter worth about $33,000. Brown Brothers Harriman & Co. increased its position in shares of Knight-Swift Transportation by 543.2% during the first quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock worth $47,000 after acquiring an additional 793 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in Knight-Swift Transportation in the 2nd quarter worth about $61,000. Belpointe Asset Management LLC grew its position in 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 worth $73,000 after purchasing an additional 230 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in 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 worth $76,000 after purchasing an additional 1,510 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

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.