Knight-Swift Transportation (NYSE:KNX) Releases Q2 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.260-0.300 for the period, compared to the consensus estimate of 0.480. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $48.58 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $55.07 and a two-hundred day moving average of $54.23. Knight-Swift Transportation has a 52 week low of $45.73 and a 52 week high of $60.99. The company has a market cap of $7.85 billion, a P/E ratio of 36.53, a PEG ratio of 1.47 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last issued its 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 net margin of 3.04% and a return on equity of 3.93%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. As a group, analysts anticipate that Knight-Swift Transportation will post 2.3 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a $0.16 dividend. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Thursday, March 7th. Knight-Swift Transportation’s payout ratio is presently 48.12%.

Analyst Ratings Changes

KNX has been the subject of several analyst reports. Susquehanna reduced their price objective on 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. Stifel Nicolaus boosted their price objective on Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Barclays reduced their price objective on Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating for the company in a research report on Monday, April 1st. Finally, JPMorgan Chase & Co. reduced their price objective on 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $62.75.

Insider Buying and Selling 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 stock was 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 filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at $33,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Knight-Swift Transportation by 5.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 473,707 shares of the transportation company’s stock valued at $27,309,000 after purchasing an additional 26,232 shares during the period. Legal & General Group Plc raised its stake in Knight-Swift Transportation by 29.2% during the 4th quarter. Legal & General Group Plc now owns 820,909 shares of the transportation company’s stock valued at $47,325,000 after purchasing an additional 185,561 shares during the period. Vanguard Group Inc. raised its stake in Knight-Swift Transportation by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after purchasing an additional 57,000 shares during the period. Finally, Vident Advisory LLC raised its stake in Knight-Swift Transportation by 14.1% during the 4th quarter. Vident Advisory LLC now owns 203,082 shares of the transportation company’s stock valued at $11,708,000 after purchasing an additional 25,135 shares during the period. 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.