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

Knight-Swift Transportation (NYSE:KNX) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. 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 2024 guidance to 0.190-0.200 EPS.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock traded down $2.16 on Wednesday, hitting $48.62. The stock had a trading volume of 9,428,418 shares, compared to its average volume of 2,036,581. Knight-Swift Transportation has a twelve month low of $45.73 and a twelve month high of $60.99. The business’s 50 day moving average is $55.30 and its two-hundred day moving average is $54.27. 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 stock has a market cap of $7.85 billion, a price-to-earnings ratio of 38.18, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last posted 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). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. Analysts forecast that Knight-Swift Transportation will post 2.35 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 dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.32%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio is currently 48.12%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KNX. JPMorgan Chase & Co. reduced their price target on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research report on Tuesday, April 9th. Susquehanna reduced their price target on Knight-Swift Transportation from $62.00 to $59.00 and set a neutral rating on the stock in a research report on Monday, March 25th. Stifel Nicolaus increased their price target 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. Finally, Barclays reduced their price target on Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating on the stock in a research report on Monday, April 1st. 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 data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of Moderate Buy and a consensus target price of $62.75.

Insider Activity

In other news, CAO Cary M. Flanagan sold 2,000 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KNX. Quarry LP acquired a new stake in Knight-Swift Transportation during the 4th quarter worth about $33,000. Brown Brothers Harriman & Co. grew its holdings in Knight-Swift Transportation by 543.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock worth $47,000 after acquiring an additional 793 shares during the period. UniSuper Management Pty Ltd acquired a new stake in Knight-Swift Transportation during the 2nd quarter worth about $61,000. Belpointe Asset Management LLC grew its holdings in Knight-Swift Transportation by 21.8% during the 1st quarter. Belpointe Asset Management LLC now owns 1,285 shares of the transportation company’s stock worth $73,000 after acquiring an additional 230 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Knight-Swift Transportation by 13,727.3% during the 3rd quarter. Lazard Asset Management LLC now owns 1,521 shares of the transportation company’s stock worth $76,000 after acquiring an additional 1,510 shares during the period. 88.77% of the stock is owned by institutional investors.

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.