Knight-Swift Transportation (NYSE:KNX) Releases 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 EPS 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.

Analysts Set New Price Targets

Several research firms recently issued reports on KNX. TD Cowen decreased their price objective on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a report on Thursday, April 18th. Susquehanna decreased their price objective on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating on the stock in a report on Thursday, April 18th. Stephens reduced their target price 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. Stifel Nicolaus cut their price target on shares of Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Finally, Loop Capital downgraded shares of Knight-Swift Transportation from a buy rating to a hold rating and cut their price target for the company from $63.00 to $53.00 in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Knight-Swift Transportation has a consensus rating of Moderate Buy and a consensus price target of $57.77.

Knight-Swift Transportation Stock Down 1.5 %

KNX stock traded down $0.73 during midday trading on Wednesday, hitting $48.50. The stock had a trading volume of 3,298,149 shares, compared to its average volume of 2,139,522. Knight-Swift Transportation has a 52-week low of $45.73 and a 52-week high of $60.99. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 2.46 and a beta of 0.99. The business has a 50-day moving average of $53.94 and a two-hundred day moving average of $54.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. As a group, equities research analysts forecast that Knight-Swift Transportation will post 1.31 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently announced 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. This represents a $0.64 annualized dividend and a yield of 1.32%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s payout ratio is 48.12%.

Insider Activity

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

About Knight-Swift Transportation

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.