Knight-Swift Transportation (NYSE:KNX) Releases Q3 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.31-$0.35 for the period, compared to the consensus EPS estimate of $0.49. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Knight-Swift Transportation Trading Down 2.2 %

Shares of KNX traded down $1.06 during midday trading on Thursday, hitting $47.45. The stock had a trading volume of 1,590,152 shares, compared to its average volume of 2,131,403. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99. The business has a 50-day simple moving average of $53.94 and a two-hundred day simple moving average of $54.22. The firm has a market cap of $7.66 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 2.51 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, April 24th. The transportation company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that Knight-Swift Transportation will post 1.31 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio is 48.12%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KNX. Stifel Nicolaus reduced their price target on shares of Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating for the company in a research report on Thursday, April 18th. JPMorgan Chase & Co. reduced their price target on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. TD Cowen reduced their price target on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a research report on Thursday, April 18th. Stephens reduced their price target on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a research report on Thursday, April 18th. Finally, Susquehanna reduced their price target on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $58.14.

Insider Activity

In other news, CAO Cary M. Flanagan sold 2,000 shares of the firm’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 in the company, valued at $287,836.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.00% 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.