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

Knight-Swift Transportation (NYSE:KNX) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.32-0.36 for the period, compared to the consensus earnings per share estimate of $0.34. Knight-Swift Transportation also updated its Q3 2024 guidance to 0.310-0.350 EPS.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and reduced their target price for the stock from $53.00 to $47.00 in a report on Friday, April 26th. Stephens reduced their target price 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, April 18th. StockNews.com raised shares of Knight-Swift Transportation to a sell rating in a research note on Thursday. Wells Fargo & Company initiated coverage on shares of Knight-Swift Transportation in a research note on Friday, June 7th. They issued an overweight rating and a $56.00 price objective on the stock. Finally, Barclays lowered their price objective on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating on the stock in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $56.79.

Knight-Swift Transportation Stock Down 0.5 %

KNX stock traded down $0.25 during trading on Friday, hitting $51.80. 1,323,519 shares of the stock traded hands, compared to its average volume of 2,119,916. Knight-Swift Transportation has a 1 year low of $45.55 and a 1 year high of $60.99. The firm’s 50 day moving average is $48.70 and its two-hundred day moving average is $52.16. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 77.94, a price-to-earnings-growth ratio of 1.31 and a beta of 0.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.93.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results 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). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. On average, sell-side analysts anticipate that Knight-Swift Transportation will post 1.21 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Monday, June 10th. Knight-Swift Transportation’s payout ratio is 95.52%.

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.