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

Knight-Swift Transportation (NYSE:KNX) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.31-$0.35 for the period, compared to the consensus EPS estimate of $0.49. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Knight-Swift Transportation Price Performance

Shares of KNX stock traded down $0.67 during trading hours on Friday, hitting $46.47. The company had a trading volume of 2,468,124 shares, compared to its average volume of 2,165,297. Knight-Swift Transportation has a 12 month low of $45.73 and a 12 month high of $60.99. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 70.36, a PEG ratio of 2.48 and a beta of 0.99. The firm’s fifty day moving average is $53.72 and its 200 day moving average is $54.17. 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 released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.53%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Knight-Swift Transportation will post 1.31 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.38%. Knight-Swift Transportation’s dividend payout ratio is 95.52%.

Analysts Set New Price Targets

KNX has been the topic of a number of research analyst reports. Bank of America decreased their price target on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating on the stock in a research report on Thursday, April 18th. TD Cowen reduced their price objective on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday, April 18th. Evercore ISI reduced their price objective on Knight-Swift Transportation from $60.00 to $55.00 and set an in-line rating on the stock in a report on Thursday. Robert W. Baird cut their price target on Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $57.71.

Insider Activity

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation 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 transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is owned by company insiders.

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.