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. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Stifel Nicolaus downgraded Knight-Swift Transportation from a buy rating to a hold rating and dropped their price objective for the company from $53.00 to $47.00 in a research note on Friday. Stephens dropped their price objective on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a research note on Thursday, April 18th. Susquehanna dropped their price objective on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a research note on Thursday, April 18th. Bank of America dropped their price objective on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $57.71.

Knight-Swift Transportation Stock Down 0.5 %

Shares of NYSE KNX traded down $0.25 during midday trading on Friday, reaching $46.89. 4,211,688 shares of the company’s stock were exchanged, compared to its average volume of 2,419,995. The stock has a market capitalization of $7.57 billion, a PE ratio of 69.97, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99. Knight-Swift Transportation has a 52-week low of $45.73 and a 52-week high of $60.99. The business’s fifty day moving average price is $53.52 and its two-hundred day moving average price is $54.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.93.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Knight-Swift Transportation had a return on equity of 2.54% and a net margin of 1.50%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $0.73 earnings per share. Analysts forecast that Knight-Swift Transportation will post 1.31 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The company 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. This represents a $0.64 dividend on an annualized basis and a yield of 1.36%. 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 (DPR) is 95.52%.

Insider Buying and Selling

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation 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 transaction, the chief accounting officer now directly owns 5,118 shares in the company, valued at $287,836.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.00% 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.