$0.38 EPS Expected for Swift Transportation Company (KNX) This Quarter
Equities research analysts expect Swift Transportation Company (NYSE:KNX) to report $0.38 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Swift Transportation’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.40. Swift Transportation posted earnings per share of $0.56 during the same quarter last year, which would suggest a negative year over year growth rate of 32.1%. The company is expected to issue its next earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Swift Transportation will report full-year earnings of $1.13 per share for the current year, with EPS estimates ranging from $1.05 to $1.18. For the next year, analysts forecast that the company will report earnings of $1.76 per share, with EPS estimates ranging from $1.60 to $1.85. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Swift Transportation.
Swift Transportation (NYSE:KNX) last posted its earnings results on Monday, November 6th. The transportation company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.05). The firm had revenue of $521.61 million for the quarter, compared to analysts’ expectations of $1.33 billion. Swift Transportation had a return on equity of 7.48% and a net margin of 2.44%. During the same quarter in the previous year, the firm posted $0.34 earnings per share.
Several analysts have recently issued reports on KNX shares. Buckingham Research started coverage on Swift Transportation in a research report on Monday, August 21st. They issued a “buy” rating and a $43.00 price objective on the stock. J P Morgan Chase & Co started coverage on Swift Transportation in a research report on Thursday, October 12th. They issued a “neutral” rating and a $39.00 price objective on the stock. Zacks Investment Research downgraded Swift Transportation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. ValuEngine lowered Swift Transportation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, UBS AG upped their target price on Swift Transportation from $43.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $41.13.
In other Swift Transportation news, Director Michael Garnreiter sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $38.50, for a total transaction of $96,250.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 44.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. lifted its holdings in Swift Transportation by 313.0% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 26,522 shares of the transportation company’s stock worth $1,035,000 after buying an additional 20,100 shares during the last quarter. Green Square Capital LLC acquired a new stake in shares of Swift Transportation during the 3rd quarter worth approximately $592,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Swift Transportation during the 3rd quarter worth approximately $5,877,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Swift Transportation during the 3rd quarter worth approximately $1,995,000. Finally, California State Teachers Retirement System raised its position in shares of Swift Transportation by 124.2% during the 3rd quarter. California State Teachers Retirement System now owns 201,033 shares of the transportation company’s stock worth $8,353,000 after purchasing an additional 111,375 shares during the period. 65.87% of the stock is currently owned by institutional investors.
Shares of Swift Transportation (NYSE:KNX) traded down $0.12 during trading hours on Thursday, hitting $38.94. The stock had a trading volume of 1,857,459 shares, compared to its average volume of 2,539,393. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.32 and a quick ratio of 1.32. Swift Transportation has a twelve month low of $26.68 and a twelve month high of $44.45. The stock has a market capitalization of $6,928.71, a P/E ratio of 29.20 and a beta of 2.07.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, November 30th.
Swift Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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