Knight-Swift Transportation (NYSE:KNX) Issues Q2 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.260-0.300 for the period, compared to the consensus EPS estimate of 0.480. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Loop Capital cut shares of Knight-Swift Transportation from a buy rating to a hold rating and reduced their target price for the company from $63.00 to $53.00 in a report on Thursday. Susquehanna reduced 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 report on Thursday. Barclays reduced their target price on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a report on Thursday. TD Cowen reduced 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 report on Thursday. Finally, Stifel Nicolaus reduced their target price on shares of Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $57.77.

Knight-Swift Transportation Trading Up 0.6 %

Shares of Knight-Swift Transportation stock opened at $48.16 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The company’s 50-day simple moving average is $54.60 and its 200-day simple moving average is $54.18. 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 announced its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.38). The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. As a group, equities research analysts anticipate that Knight-Swift Transportation will post 2.2 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.33%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 48.12%.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the 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 completion of the sale, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Several large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its position in shares of Knight-Swift Transportation by 8.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock worth $131,000 after acquiring an additional 190 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in Knight-Swift Transportation by 21.8% during the 1st quarter. Belpointe Asset Management LLC now owns 1,285 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 230 shares in the last quarter. Pathstone Family Office LLC grew its holdings in Knight-Swift Transportation by 4.8% during the 4th quarter. Pathstone Family Office LLC now owns 5,795 shares of the transportation company’s stock valued at $298,000 after purchasing an additional 266 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Knight-Swift Transportation by 2.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,922 shares of the transportation company’s stock valued at $731,000 after purchasing an additional 297 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in Knight-Swift Transportation by 2.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 12,147 shares of the transportation company’s stock valued at $675,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 88.77% 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.