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

Knight-Swift Transportation (NYSE:KNX) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. 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 2024 guidance to 0.190-0.200 EPS.

Knight-Swift Transportation Price Performance

Shares of KNX stock traded down $2.16 during mid-day trading on Wednesday, reaching $48.62. The stock had a trading volume of 9,428,418 shares, compared to its average volume of 2,036,581. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99. The company has a market cap of $7.85 billion, a P/E ratio of 38.18, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. The business has a 50-day simple moving average of $55.30 and a 200 day simple moving average of $54.27. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). The firm had revenue of $1.93 billion during 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%. On average, sell-side analysts anticipate that Knight-Swift Transportation will post 2.35 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 48.12%.

Analyst Ratings Changes

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

Insider Activity

In related news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was 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 in the company, valued at approximately $287,836.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds have recently modified their holdings of KNX. Vanguard Group Inc. increased its holdings 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 purchasing an additional 57,000 shares during the last quarter. Wellington Management Group LLP increased its holdings 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 purchasing an additional 972,139 shares during the last quarter. State Street Corp increased its holdings 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 purchasing an additional 166,644 shares during the last quarter. Morgan Stanley increased its holdings 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 purchasing an additional 387,501 shares during the last quarter. Finally, Invesco Ltd. increased its holdings 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 acquiring an additional 80,322 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other 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.