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

Knight-Swift Transportation (NYSE:KNX) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.11-0.12 for the period, compared to the consensus EPS estimate of $0.39. Knight-Swift Transportation also updated its Q1 2024 guidance to 0.190-0.200 EPS.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. Susquehanna dropped their target price on shares of Knight-Swift Transportation from $62.00 to $59.00 and set a neutral rating for the company in a research report on Monday, March 25th. Barclays decreased their price target on shares of Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating for the company in a research note on Monday, April 1st. Loop Capital lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and decreased their price target for the stock from $63.00 to $53.00 in a research note on Thursday. Finally, Stifel Nicolaus increased their price target on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $62.00.

Knight-Swift Transportation Stock Down 4.3 %

NYSE:KNX opened at $48.58 on Thursday. The firm has a market cap of $7.85 billion, a P/E ratio of 36.53, a P/E/G ratio of 1.47 and a beta of 0.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99. The firm has a 50-day simple moving average of $55.07 and a two-hundred day simple moving average of $54.23.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results 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 return on equity of 3.93% and a net margin of 3.04%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Analysts predict that Knight-Swift Transportation will post 2.3 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.32%. Knight-Swift Transportation’s payout ratio is currently 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 that occurred 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 owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Knight-Swift Transportation in the fourth quarter worth $33,000. Brown Brothers Harriman & Co. increased its position in Knight-Swift Transportation by 543.2% in the first quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock worth $47,000 after purchasing an additional 793 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in Knight-Swift Transportation during the second quarter valued at $61,000. Belpointe Asset Management LLC increased its position in Knight-Swift Transportation by 21.8% during the first quarter. Belpointe Asset Management LLC now owns 1,285 shares of the transportation company’s stock valued at $73,000 after acquiring an additional 230 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Knight-Swift Transportation by 13,727.3% during the third quarter. Lazard Asset Management LLC now owns 1,521 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 1,510 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.