Knight-Swift Transportation (NYSE:KNX) Releases Q3 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.310-0.350 for the period. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock traded down $0.72 during trading on Wednesday, hitting $48.51. 3,351,107 shares of the company’s stock traded hands, compared to its average volume of 2,139,522. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. Knight-Swift Transportation has a 1 year low of $45.73 and a 1 year high of $60.99. The stock has a market capitalization of $7.83 billion, a P/E ratio of 36.48, a PEG ratio of 2.46 and a beta of 0.99. The business has a 50-day simple moving average of $54.15 and a 200-day simple moving average of $54.26.

Knight-Swift Transportation (NYSE:KNX) last released 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 net margin of 3.04% and a return on equity of 3.93%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. As a group, analysts forecast that Knight-Swift Transportation will post 1.31 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The firm also recently disclosed 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 was Thursday, March 7th. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.32%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 48.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KNX shares. Barclays dropped their price objective 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. Stephens dropped their target price 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. Loop Capital cut Knight-Swift Transportation from a buy rating to a hold rating and dropped their target price for the stock from $63.00 to $53.00 in a research report on Thursday, April 18th. TD Cowen dropped their target price 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. Finally, JPMorgan Chase & Co. dropped their target price 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. 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 company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $57.77.

Insider Activity at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation 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 sale, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.

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.