Knight-Swift Transportation (NYSE:KNX) Issues Quarterly Earnings Results

Knight-Swift Transportation (NYSE:KNX) posted its quarterly earnings data on Wednesday. The transportation company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02, Briefing.com reports. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS.

Knight-Swift Transportation Stock Up 1.1 %

KNX stock traded up $0.59 during mid-day trading on Friday, hitting $52.53. 1,698,619 shares of the company were exchanged, compared to its average volume of 2,068,651. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $8.50 billion, a P/E ratio of 128.13, a P/E/G ratio of 1.74 and a beta of 0.92. The firm’s 50 day simple moving average is $52.24 and its 200 day simple moving average is $50.38. Knight-Swift Transportation has a 1-year low of $45.55 and a 1-year high of $60.99.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a yield of 1.22%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 156.10%.

Wall Street Analysts Forecast Growth

KNX has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Friday. Morgan Stanley reduced their target price on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday. Susquehanna raised their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Wolfe Research lowered shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, Bank of America raised their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.94.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the sale, the chairman now directly owns 1,467,360 shares in the company, valued at approximately $73,852,228.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total value of $1,509,900.00. Following the sale, the chairman now directly owns 1,467,360 shares in the company, valued at $73,852,228.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the completion of the sale, the director now owns 17,648 shares in the company, valued at $892,459.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,196 shares of company stock worth $4,367,869. Company insiders own 3.00% of the company’s stock.

About Knight-Swift Transportation

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.