Knight-Swift Transportation (NYSE:KNX) Updates Q1 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its first quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.190-0.200 for the period, compared to the consensus earnings per share estimate of 0.290. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q2 2024 guidance to 0.260-0.300 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating on the stock in a research note on Monday, April 1st. Stifel Nicolaus boosted their price objective on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. decreased their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research report on Tuesday, April 9th. Finally, Susquehanna decreased their price objective on shares of Knight-Swift Transportation from $62.00 to $59.00 and set a neutral rating on the stock in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $62.75.

Knight-Swift Transportation Trading Down 4.3 %

NYSE:KNX traded down $2.16 on Wednesday, reaching $48.62. The stock had a trading volume of 9,428,418 shares, compared to its average volume of 2,036,581. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99. The firm’s fifty day moving average is $55.30 and its two-hundred day moving average is $54.27. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 38.18, a P/E/G ratio of 1.44 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Equities analysts expect that Knight-Swift Transportation will post 2.35 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.32%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 48.12%.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the transaction, the chief accounting officer now directly owns 5,118 shares in the company, valued at $287,836.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds have recently added to or reduced their stakes in KNX. Norges Bank bought a new stake in Knight-Swift Transportation in the fourth quarter valued at $90,026,000. Wellington Management Group LLP grew its position in Knight-Swift Transportation by 13.4% in the 1st quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock valued at $414,739,000 after buying an additional 972,139 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Knight-Swift Transportation by 94.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock valued at $85,249,000 after buying an additional 892,933 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Knight-Swift Transportation during the 1st quarter worth about $27,013,000. Finally, Morgan Stanley raised its position in shares of Knight-Swift Transportation by 8.4% during the 4th quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock worth $262,859,000 after buying an additional 387,501 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.