Brokers Issue Forecasts for Knight-Swift Transportation Holdings Inc.’s Q3 2024 Earnings (NYSE:KNX)

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) – Stock analysts at Zacks Research reduced their Q3 2024 EPS estimates for Knight-Swift Transportation in a research report issued on Tuesday, September 24th. Zacks Research analyst S. Goswami now forecasts that the transportation company will post earnings per share of $0.35 for the quarter, down from their previous forecast of $0.36. The consensus estimate for Knight-Swift Transportation’s current full-year earnings is $1.10 per share.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the business earned $0.49 earnings per share.

A number of other brokerages have also recently weighed in on KNX. JPMorgan Chase & Co. raised their target price on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Raymond James reduced their target price on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. UBS Group reduced their target price on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. StockNews.com raised shares of Knight-Swift Transportation to a “sell” rating in a research note on Thursday, July 25th. Finally, Susquehanna lifted their price objective on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Knight-Swift Transportation Trading Up 2.5 %

Shares of NYSE:KNX opened at $54.05 on Friday. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 80.67, a PEG ratio of 1.47 and a beta of 0.93. Knight-Swift Transportation has a 1-year low of $45.55 and a 1-year high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50 day moving average price of $52.24 and a 200 day moving average price of $50.65.

Institutional Investors Weigh In On Knight-Swift Transportation

Several institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its stake in shares of Knight-Swift Transportation by 0.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock valued at $1,230,000 after purchasing an additional 196 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Knight-Swift Transportation by 1.6% in the 2nd quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock valued at $637,000 after purchasing an additional 199 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in Knight-Swift Transportation by 28.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after acquiring an additional 200 shares during the last quarter. Sompo Asset Management Co. Ltd. lifted its position in Knight-Swift Transportation by 4.8% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 5,000 shares of the transportation company’s stock worth $288,000 after acquiring an additional 230 shares during the last quarter. Finally, MQS Management LLC lifted its position in Knight-Swift Transportation by 3.7% during the 2nd quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock worth $348,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the sale, the chairman now owns 1,467,360 shares of the company’s stock, valued at approximately $73,852,228.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction on Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the sale, the director now owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the sale, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at approximately $73,852,228.80. The disclosure for this sale can be found here. Insiders sold 85,196 shares of company stock valued at $4,367,869 in the last quarter. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 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.