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

Knight-Swift Transportation (NYSE:KNX) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.11-0.12 for the period, compared to the consensus EPS estimate of $0.39. Knight-Swift Transportation also updated its Q1 2024 guidance to 0.190-0.200 EPS.

Knight-Swift Transportation Trading Up 0.6 %

Shares of Knight-Swift Transportation stock opened at $48.16 on Friday. The firm has a market cap of $7.78 billion, a PE ratio of 36.21, a P/E/G ratio of 1.45 and a beta of 0.99. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The business’s fifty day moving average is $54.60 and its two-hundred day moving average is $54.18. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. Analysts anticipate that Knight-Swift Transportation will post 2.2 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.33%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio is presently 48.12%.

Analysts Set New Price Targets

Several brokerages recently issued reports on KNX. Barclays lowered their price target on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a report on Thursday. Susquehanna lowered their price target on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a report on Thursday. Stephens lowered their price target on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a report on Thursday. Bank of America lowered their price target on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $57.77.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total value of $112,480.00. Following the transaction, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Knight-Swift Transportation by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock worth $865,977,000 after acquiring an additional 57,000 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Knight-Swift Transportation by 13.4% during the first quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock valued at $414,739,000 after buying an additional 972,139 shares during the last quarter. State Street Corp raised its holdings in shares of Knight-Swift Transportation by 2.7% during the first quarter. State Street Corp now owns 6,314,648 shares of the transportation company’s stock valued at $318,637,000 after buying an additional 166,644 shares during the last quarter. Morgan Stanley raised its holdings in shares of Knight-Swift Transportation by 8.4% during the fourth quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock valued at $262,859,000 after buying an additional 387,501 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Knight-Swift Transportation by 2.8% during the first quarter. Invesco Ltd. now owns 2,949,555 shares of the transportation company’s stock valued at $148,834,000 after buying an additional 80,322 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

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.