Knight-Swift Transportation (NYSE:KNX) Issues Quarterly Earnings Results

Knight-Swift Transportation (NYSE:KNX) announced its quarterly earnings results on Wednesday. The transportation company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07, FiscalAI reports. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.16 billion. Knight-Swift Transportation had a net margin of 0.56% and a return on equity of 3.51%.

Knight-Swift Transportation Trading Down 0.2%

Shares of KNX traded down $0.13 during trading hours on Wednesday, reaching $63.12. The stock had a trading volume of 4,802,862 shares, compared to its average volume of 3,657,989. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. Knight-Swift Transportation has a 52 week low of $41.24 and a 52 week high of $82.86. The firm has a 50-day moving average of $67.38 and a 200 day moving average of $69.57. The company has a market cap of $10.27 billion, a P/E ratio of 242.79, a P/E/G ratio of 0.54 and a beta of 1.21.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. Knight-Swift Transportation’s payout ratio is 307.69%.

Insider Transactions at Knight-Swift Transportation

In related news, CAO Cary Flanagan sold 3,600 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $70.82, for a total transaction of $254,952.00. Following the completion of the transaction, the chief accounting officer owned 5,405 shares in the company, valued at approximately $382,782.10. This represents a 39.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Vander Ploeg sold 2,200 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $52.33, for a total transaction of $115,126.00. Following the sale, the director directly owned 30,252 shares in the company, valued at $1,583,087.16. This trade represents a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 224,954 shares of company stock valued at $16,183,454 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

KNX has been the subject of several analyst reports. Barclays raised their target price on Knight-Swift Transportation from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Citizens Jmp started coverage on Knight-Swift Transportation in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $90.00 target price for the company. Stephens raised shares of Knight-Swift Transportation to a “strong-buy” rating in a research note on Wednesday, July 8th. TD Cowen raised their price objective on shares of Knight-Swift Transportation from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Sanford C. Bernstein assumed coverage on shares of Knight-Swift Transportation in a report on Thursday, September 10th. They set an “outperform” rating and a $91.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and a consensus price target of $82.83.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.

Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.