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

Knight-Swift Transportation (NYSE:KNX) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS 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.

Wall Street Analyst Weigh In

KNX has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of 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. TD Cowen reduced their target price on shares of 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. Evercore ISI reduced their target price on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an in-line rating on the stock in a research report on Thursday. Loop Capital downgraded shares of Knight-Swift Transportation from a buy rating to a hold rating and reduced their target price for the stock from $63.00 to $53.00 in a research report on Thursday, April 18th. Finally, Stephens reduced their target price on shares of 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $58.14.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX traded down $1.20 during midday trading on Thursday, reaching $47.31. 1,981,312 shares of the company’s stock traded hands, compared to its average volume of 2,135,810. The company has a fifty day simple moving average of $53.94 and a two-hundred day simple moving average of $54.22. Knight-Swift Transportation has a 1 year low of $45.73 and a 1 year high of $60.99. The company has a market cap of $7.64 billion, a P/E ratio of 35.23, a PEG ratio of 2.51 and a beta of 0.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. Equities analysts predict that Knight-Swift Transportation will post 1.31 EPS for the current fiscal 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 issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Thursday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio is currently 48.12%.

Insiders Place Their Bets

In other news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is owned by company 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.