Knight-Swift Transportation (NYSE:KNX) Issues Q3 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.310-0.350 for the period. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Knight-Swift Transportation Trading Down 0.5 %

Shares of NYSE KNX traded down $0.25 during midday trading on Friday, reaching $46.89. 4,211,688 shares of the stock were exchanged, compared to its average volume of 2,419,995. The business has a 50-day simple moving average of $53.52 and a two-hundred day simple moving average of $54.15. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 69.97, a P/E/G ratio of 2.41 and a beta of 0.99. Knight-Swift Transportation has a 12 month low of $45.73 and a 12 month high of $60.99. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Knight-Swift Transportation had a return on equity of 2.54% and a net margin of 1.50%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. As a group, equities research analysts expect that Knight-Swift Transportation will post 1.31 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a $0.16 dividend. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KNX. Robert W. Baird cut their price objective on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating on the stock in a research report on Thursday. Stephens lowered their price target on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a research note on Thursday, April 18th. Loop Capital lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and lowered their price target for the company from $63.00 to $53.00 in a research note on Thursday, April 18th. JPMorgan Chase & Co. lowered their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Finally, TD Cowen lowered their price objective on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $57.71.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction that occurred on 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 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 SEC, which is accessible through this hyperlink. 3.00% of the stock is currently owned by insiders.

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.