Q3 2024 EPS Estimates for Knight-Swift Transportation Holdings Inc. Increased by Analyst (NYSE:KNX)

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) – Equities researchers at Zacks Research raised their Q3 2024 earnings estimates for shares of Knight-Swift Transportation in a note issued to investors on Tuesday, September 3rd. Zacks Research analyst S. Goswami now anticipates that the transportation company will post earnings of $0.36 per share for the quarter, up from their prior estimate of $0.35. The consensus estimate for Knight-Swift Transportation’s current full-year earnings is $1.12 per share. Zacks Research also issued estimates for Knight-Swift Transportation’s Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.17 EPS, Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.50 EPS and Q4 2025 earnings at $0.74 EPS.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company’s revenue was up 18.9% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the company. TD Cowen upped their price target on Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Evercore ISI decreased their price objective on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Wolfe Research cut shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company began coverage on shares of Knight-Swift Transportation in a research report on Friday, June 7th. They issued an “overweight” rating and a $56.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.14.

Knight-Swift Transportation Trading Up 0.2 %

Shares of KNX opened at $52.57 on Thursday. The business’s 50-day moving average price is $51.44 and its 200-day moving average price is $51.13. Knight-Swift Transportation has a twelve month low of $45.55 and a twelve month high of $60.99. The stock has a market cap of $8.51 billion, a PE ratio of 78.46, a P/E/G ratio of 1.42 and a beta of 0.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, September 6th. Knight-Swift Transportation’s payout ratio is 95.52%.

Insider Buying and Selling

In related news, Chairman Kevin P. Knight sold 45,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 45,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the transaction, the chairman now owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. The disclosure for this sale can be found here. Insiders sold 85,196 shares of company stock valued at $4,367,869 over the last quarter. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Several institutional investors and hedge funds have recently modified their holdings of KNX. Teachers Retirement System of The State of Kentucky boosted its position in shares of Knight-Swift Transportation by 46.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 76,849 shares of the transportation company’s stock valued at $3,837,000 after buying an additional 24,451 shares during the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Knight-Swift Transportation during the second quarter valued at $30,251,000. Creative Planning boosted its position in Knight-Swift Transportation by 39.7% in the second quarter. Creative Planning now owns 20,188 shares of the transportation company’s stock worth $1,008,000 after purchasing an additional 5,736 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in Knight-Swift Transportation by 862.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 49,106 shares of the transportation company’s stock worth $2,451,000 after purchasing an additional 44,003 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Knight-Swift Transportation by 309.7% in the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock worth $53,331,000 after purchasing an additional 807,572 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

About Knight-Swift Transportation

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.