Knight-Swift Transportation (NYSE:KNX) Issues Q3 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.310-0.350 for the period, compared to the consensus EPS estimate of 0.340. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q3 guidance to $0.32-0.36 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KNX. Robert W. Baird dropped their target price on Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Barclays dropped their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating on the stock in a research report on Thursday, April 18th. UBS Group dropped their target price on Knight-Swift Transportation from $59.00 to $58.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a neutral rating in a research report on Thursday. Finally, Raymond James dropped their target price on Knight-Swift Transportation from $58.00 to $57.00 and set a strong-buy rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $56.79.

Knight-Swift Transportation Stock Performance

Shares of NYSE:KNX traded up $3.05 during trading on Thursday, hitting $52.03. 6,392,298 shares of the company traded hands, compared to its average volume of 2,125,525. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 79.91, a PEG ratio of 1.32 and a beta of 0.94. The business’s fifty day moving average is $48.67 and its 200-day moving average is $52.16. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.25.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. As a group, equities analysts predict that Knight-Swift Transportation will post 1.21 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Monday, June 10th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 95.52%.

About Knight-Swift Transportation

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.