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

Knight-Swift Transportation (NYSE:KNX) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.26-$0.30 for the period, compared to the consensus earnings per share estimate of $0.34. Knight-Swift Transportation also updated its Q3 guidance to $0.31-$0.35 EPS.

Knight-Swift Transportation Price Performance

NYSE KNX traded down $0.72 during trading on Wednesday, hitting $48.51. 3,298,149 shares of the company’s stock were exchanged, compared to its average volume of 2,138,811. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a market cap of $7.83 billion, a PE ratio of 36.48, a P/E/G ratio of 2.46 and a beta of 0.99. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99. The stock’s 50 day moving average price is $54.15 and its two-hundred day moving average price is $54.26.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.38). The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. Research analysts expect that Knight-Swift Transportation will post 1.31 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a $0.16 dividend. 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 yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio is presently 48.12%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KNX shares. Loop Capital downgraded Knight-Swift Transportation from a buy rating to a hold rating and dropped their price target for the company from $63.00 to $53.00 in a research report on Thursday, April 18th. TD Cowen cut their price objective on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Susquehanna cut their price objective on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating on the stock in a research report on Thursday, April 18th. Stephens dropped their price target on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a research report on Thursday, April 18th. Finally, Barclays dropped their price target on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating on the stock 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $57.77.

Insider Transactions at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.00% 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.