Knight-Swift Transportation (NYSE:KNX) Updates 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 Q1 guidance to $0.11-0.12 EPS.

Knight-Swift Transportation Trading Down 4.3 %

NYSE:KNX opened at $48.58 on Thursday. The company has a fifty day moving average of $55.07 and a 200 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 quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $7.85 billion, a P/E ratio of 36.53, a P/E/G ratio of 1.47 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data 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 return on equity of 3.93% and a net margin of 3.04%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. On average, research analysts predict that Knight-Swift Transportation will post 2.3 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

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

Analysts Set New Price Targets

KNX has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a report on Tuesday, April 9th. Stifel Nicolaus upped their target price on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Susquehanna reduced their target price on shares of 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. Finally, Barclays reduced their target price on shares of 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 analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of Moderate Buy and an average target price of $62.75.

Insider Activity at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Knight-Swift Transportation

Institutional investors have recently bought and sold shares of the company. Quarry LP bought a new position in Knight-Swift Transportation during the 4th quarter valued at about $33,000. Brown Brothers Harriman & Co. lifted its stake 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 valued at $47,000 after acquiring an additional 793 shares during the period. UniSuper Management Pty Ltd bought a new position in Knight-Swift Transportation during the 2nd quarter valued at about $61,000. Belpointe Asset Management LLC lifted its stake 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 valued at $73,000 after acquiring an additional 230 shares during the period. Finally, Lazard Asset Management LLC lifted its stake 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 valued at $76,000 after acquiring an additional 1,510 shares during the period. 88.77% of the stock is owned by hedge funds and other 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.