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

Knight-Swift Transportation (NYSE:KNX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.260-0.300 for the period, compared to the consensus estimate of 0.480. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Knight-Swift Transportation Stock Performance

Shares of KNX opened at $48.16 on Friday. Knight-Swift Transportation has a 12 month low of $45.73 and a 12 month high of $60.99. The stock has a fifty day moving average price of $54.60 and a 200-day moving average price of $54.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. 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.

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

Knight-Swift Transportation Increases Dividend

The firm 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 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio is currently 48.12%.

Analysts Set New Price Targets

Several analysts have recently commented on KNX shares. TD Cowen decreased their price objective on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a report on Thursday. Stephens cut their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a research report on Thursday. Susquehanna cut their target price on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating on the stock in a research report on Thursday. Stifel Nicolaus cut their target price on Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating on the stock in a research report on Thursday. Finally, Bank of America cut their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating on the stock in a research report on Thursday. 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 company currently has an average rating of Moderate Buy and a consensus target price of $57.77.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the 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 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 through the SEC website. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of 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 valued at $865,977,000 after acquiring an additional 57,000 shares during the period. Wellington Management Group LLP grew its position in shares of 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 valued at $414,739,000 after acquiring an additional 972,139 shares during the period. State Street Corp grew its position in shares of 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 valued at $318,637,000 after acquiring an additional 166,644 shares during the period. Morgan Stanley grew its position in shares of Knight-Swift Transportation by 8.4% during the 4th quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock valued at $262,859,000 after acquiring an additional 387,501 shares during the period. Finally, Invesco Ltd. grew its position in shares of Knight-Swift Transportation by 2.8% during 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 period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.