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

Knight-Swift Transportation (NYSE:KNX) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.310-0.350 for the period. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Knight-Swift Transportation Trading Down 1.5 %

KNX traded down $0.73 during trading on Wednesday, reaching $48.50. The company had a trading volume of 3,298,149 shares, compared to its average volume of 2,139,522. The firm’s 50-day simple moving average is $53.94 and its 200 day simple moving average is $54.22. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 2.46 and a beta of 0.99. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last issued 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 company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. Equities research analysts anticipate that Knight-Swift Transportation will post 1.31 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.32%. 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%.

Wall Street Analysts Forecast Growth

KNX has been the topic of several research analyst reports. Stephens lowered their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a research note on Thursday, April 18th. TD Cowen lowered their target price on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Stifel Nicolaus lowered their target price on Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Barclays lowered their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, April 18th. Finally, Bank of America lowered their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating on the stock in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Knight-Swift Transportation currently has a consensus rating of Moderate Buy and a consensus price target of $57.77.

Insider Activity at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares in the company, valued at approximately $287,836.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by company insiders.

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.