Knight-Swift Transportation (NYSE:KNX) Issues Q1 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its first quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.190-0.200 for the period, compared to the consensus earnings per share estimate of 0.290. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q2 2024 guidance to 0.260-0.300 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KNX. Susquehanna cut their price target on shares of Knight-Swift Transportation from $62.00 to $59.00 and set a neutral rating for the company in a research note on Monday, March 25th. Barclays cut their price target on shares of Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating for the company in a research note on Monday, April 1st. JPMorgan Chase & Co. cut their price target on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus increased their price target on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the company a buy rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of Moderate Buy and a consensus target price of $62.75.

Knight-Swift Transportation Stock Performance

NYSE:KNX traded down $2.07 during mid-day trading on Wednesday, reaching $48.71. 9,669,956 shares of the company’s stock were exchanged, compared to its average volume of 2,042,454. Knight-Swift Transportation has a one year low of $45.73 and a one year high of $60.99. The firm has a market capitalization of $7.87 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. The business’s fifty day simple moving average is $55.30 and its two-hundred day simple moving average is $54.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.92 billion. Analysts anticipate that Knight-Swift Transportation will post 2.35 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.16 dividend. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 48.12%.

Insider Buying and Selling at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation 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 sale, the chief accounting officer now directly 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

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

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.