Knight-Swift Transportation (NYSE:KNX) Updates 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 earnings per share 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 Stock Performance

KNX stock traded down $1.20 during midday trading on Thursday, hitting $47.31. The stock had a trading volume of 1,981,312 shares, compared to its average volume of 2,135,810. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 2.51 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 stock has a 50-day simple moving average of $53.94 and a 200 day simple moving average of $54.22. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.16 per share. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio is currently 48.12%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Bank of America lowered their price objective on shares of 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. Evercore ISI lowered their price objective on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an in-line rating on the stock in a research note on Thursday. Stephens lowered their price objective on shares of 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. Finally, Loop Capital lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and lowered their price objective for the stock from $63.00 to $53.00 in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of Moderate Buy and an average price target of $58.14.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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 approximately $287,836.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Company Profile

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.