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

Knight-Swift Transportation (NYSE:KNX) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.26-$0.30 for the period, compared to the consensus EPS estimate of $0.34. Knight-Swift Transportation also updated its Q3 guidance to $0.31-$0.35 EPS.

Knight-Swift Transportation Trading Down 2.2 %

Knight-Swift Transportation stock traded down $1.06 during midday trading on Thursday, hitting $47.45. 1,590,152 shares of the stock were exchanged, compared to its average volume of 2,131,403. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.51 and a beta of 0.99. The stock’s 50-day simple moving average is $53.94 and its 200 day simple moving average is $54.22. 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 (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. Knight-Swift Transportation’s revenue was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that Knight-Swift Transportation will post 1.31 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. Shareholders 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 is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 48.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KNX. Evercore ISI dropped their price target on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an in-line rating for the company in a research report on Thursday. Stifel Nicolaus lowered their price objective on shares of Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating for the company in a research note on Thursday, April 18th. Loop Capital lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and lowered their price objective for the company from $63.00 to $53.00 in a research note on Thursday, April 18th. Bank of America lowered their price objective on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. lowered 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 research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation has an average rating of Moderate Buy and an average price target of $58.14.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, the chief accounting officer now owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% 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.