KeyCorp Analysts Cut Earnings Estimates for Knight-Swift Transportation Holdings Inc (NYSE:KNX)

Knight-Swift Transportation Holdings Inc (NYSE:KNX) – Research analysts at KeyCorp decreased their Q2 2019 earnings per share estimates for Knight-Swift Transportation in a report issued on Wednesday, July 17th. KeyCorp analyst T. Fowler now anticipates that the transportation company will post earnings per share of $0.57 for the quarter, down from their previous forecast of $0.62. KeyCorp also issued estimates for Knight-Swift Transportation’s Q3 2019 earnings at $0.54 EPS, FY2019 earnings at $2.40 EPS and FY2020 earnings at $2.55 EPS.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Knight-Swift Transportation had a net margin of 8.28% and a return on equity of 8.69%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis.

A number of other brokerages have also weighed in on KNX. Stephens set a $112.00 price objective on shares of Genesee & Wyoming and gave the company a “hold” rating in a report on Monday, July 1st. ValuEngine upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a report on Sunday, June 30th. Citigroup decreased their price objective on shares of Cimarex Energy from $98.00 to $90.00 and set a “buy” rating for the company in a report on Thursday. Finally, Morgan Stanley set a $36.00 price objective on shares of ArcBest and gave the company a “hold” rating in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $42.64.

Shares of KNX opened at $36.98 on Friday. Knight-Swift Transportation has a 1-year low of $23.27 and a 1-year high of $39.12. The firm’s 50-day moving average is $31.96. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 0.96 and a beta of 1.99. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.12.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.24 annualized dividend and a dividend yield of 0.65%. Knight-Swift Transportation’s dividend payout ratio is currently 9.38%.

Large investors have recently bought and sold shares of the company. Princeton Global Asset Management LLC bought a new stake in shares of Knight-Swift Transportation in the 1st quarter valued at about $28,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Knight-Swift Transportation in the 2nd quarter worth approximately $35,000. First Hawaiian Bank purchased a new position in shares of Knight-Swift Transportation in the 1st quarter worth approximately $54,000. Enterprise Financial Services Corp purchased a new position in shares of Knight-Swift Transportation in the 1st quarter worth approximately $71,000. Finally, Advisory Services Network LLC grew its position in shares of Knight-Swift Transportation by 20.0% in the 1st quarter. Advisory Services Network LLC now owns 4,200 shares of the transportation company’s stock worth $137,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

Further Reading: Death Cross

Earnings History and Estimates for Knight-Swift Transportation (NYSE:KNX)

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