Knight-Swift Transportation (NYSE:KNX) Issues Q1 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.190-0.200 for the period, compared to the consensus estimate of 0.290. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q2 2024 guidance to 0.260-0.300 EPS.

Knight-Swift Transportation Trading Down 4.1 %

NYSE KNX traded down $2.07 on Wednesday, reaching $48.71. 9,669,956 shares of the company were exchanged, compared to its average volume of 2,042,454. The business’s fifty day moving average price is $55.30 and its 200 day moving average price is $54.27. The stock has a market capitalization of $7.87 billion, a P/E ratio of 38.18, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share 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 for the quarter, compared to analyst estimates of $1.92 billion. Analysts forecast that Knight-Swift Transportation will post 2.35 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s payout ratio is currently 48.12%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KNX. Stifel Nicolaus boosted their price objective on Knight-Swift Transportation from $54.00 to $64.00 and gave the company a buy rating in a report on Wednesday, January 10th. Barclays cut their price target on Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating on the stock in a report on Monday, April 1st. JPMorgan Chase & Co. lowered 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. Finally, Susquehanna lowered 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $62.75.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction 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 owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in Knight-Swift Transportation in the 4th quarter valued at about $33,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of 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 acquiring an additional 26,232 shares during the last quarter. Legal & General Group Plc increased its stake in shares of 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 acquiring an additional 185,561 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 57,000 shares during the last quarter. Finally, Vident Advisory LLC increased its position 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 worth $11,708,000 after purchasing an additional 25,135 shares in the last quarter. 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.