Knight-Swift Transportation (NYSE:KNX) Updates 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 analysts recently commented on the stock. Susquehanna cut their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a research note on Thursday, April 18th. Stifel Nicolaus lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and dropped their price target for the stock from $53.00 to $47.00 in a research note on Friday. Stephens reduced their price target on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a report on Thursday, April 18th. Loop Capital downgraded shares of Knight-Swift Transportation from a buy rating to a hold rating and reduced their price target for the company from $63.00 to $53.00 in a report on Thursday, April 18th. Finally, Evercore ISI reduced their price target on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an in-line rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $57.71.

Knight-Swift Transportation Trading Down 0.5 %

Knight-Swift Transportation stock traded down $0.25 during midday trading on Friday, hitting $46.89. 3,279,673 shares of the stock were exchanged, compared to its average volume of 2,172,656. The company has a fifty day simple moving average of $53.72 and a two-hundred day simple moving average of $54.17. Knight-Swift Transportation has a 52 week low of $45.73 and a 52 week high of $60.99. The stock has a market capitalization of $7.57 billion, a PE ratio of 70.36, a P/E/G ratio of 2.48 and a beta of 0.99. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24.

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 return on equity of 2.53% and a net margin of 1.50%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $0.73 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that Knight-Swift Transportation will post 1.31 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Insider Transactions at Knight-Swift Transportation

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction 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 in the company, valued at $287,836.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.

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.