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

Knight-Swift Transportation (NYSE:KNX) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.11-0.12 for the period, compared to the consensus EPS estimate of $0.39. Knight-Swift Transportation also updated its Q1 2024 guidance to 0.190-0.200 EPS.

Analyst Ratings Changes

Several research firms have weighed in on KNX. JPMorgan Chase & Co. cut 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. Stifel Nicolaus dropped their price objective 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. Stephens dropped their price objective on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a report on Thursday. TD Cowen decreased 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 report on Thursday. Finally, Susquehanna decreased 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 report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $57.77.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $48.16 on Friday. The firm has a 50-day moving average of $54.60 and a 200-day moving average of $54.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $7.78 billion, a PE ratio of 36.21, a P/E/G ratio of 1.45 and a beta of 0.99. 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 data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. On average, sell-side analysts anticipate that Knight-Swift Transportation will post 2.2 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a $0.16 dividend. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 7th. This represents a $0.64 annualized dividend and a yield of 1.33%. Knight-Swift Transportation’s payout ratio is 48.12%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Knight-Swift Transportation

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Knight-Swift Transportation by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after buying an additional 57,000 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Knight-Swift Transportation by 13.4% in the 1st quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock valued at $414,739,000 after buying an additional 972,139 shares in the last quarter. State Street Corp raised its position in shares of Knight-Swift Transportation by 2.7% in the 1st quarter. State Street Corp now owns 6,314,648 shares of the transportation company’s stock valued at $318,637,000 after buying an additional 166,644 shares in the last quarter. Morgan Stanley raised its position in shares of Knight-Swift Transportation by 8.4% in the 4th quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock valued at $262,859,000 after buying an additional 387,501 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Knight-Swift Transportation by 2.8% in the 1st quarter. Invesco Ltd. now owns 2,949,555 shares of the transportation company’s stock valued at $148,834,000 after buying an additional 80,322 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.