Q2 2024 EPS Estimates for Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Reduced by Analyst

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) – Equities researchers at Zacks Research cut their Q2 2024 EPS estimates for Knight-Swift Transportation in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst S. Goswami now anticipates that the transportation company will post earnings of $0.28 per share for the quarter, down from their prior forecast of $0.56. The consensus estimate for Knight-Swift Transportation’s current full-year earnings is $1.31 per share. Zacks Research also issued estimates for Knight-Swift Transportation’s Q3 2024 earnings at $0.55 EPS, Q4 2024 earnings at $0.59 EPS, Q1 2025 earnings at $0.55 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $0.89 EPS, FY2025 earnings at $3.09 EPS and Q1 2026 earnings at $0.97 EPS.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.38). The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%.

KNX has been the subject of several other research reports. Loop Capital lowered shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and dropped their price target for the stock from $63.00 to $53.00 in a research report on Thursday, April 18th. Stephens dropped their price target on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus dropped their price target on shares of Knight-Swift Transportation from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. TD Cowen dropped their price target on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Barclays dropped their price target on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have assigned 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 a consensus target price of $57.77.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $48.50 on Thursday. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month 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 $7.83 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99. The firm has a 50-day moving average price of $53.94 and a 200 day moving average price of $54.22.

Knight-Swift Transportation Increases Dividend

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

Insider Activity

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

Institutional Trading of Knight-Swift Transportation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Knight-Swift Transportation by 15.7% in the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after purchasing an additional 2,137,296 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Knight-Swift Transportation by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after purchasing an additional 57,000 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Knight-Swift Transportation by 908.9% in the 4th quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock valued at $241,086,000 after purchasing an additional 3,767,408 shares during the last quarter. Norges Bank bought a new position in shares of Knight-Swift Transportation in the 4th quarter valued at about $201,232,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Knight-Swift Transportation by 10.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,371,944 shares of the transportation company’s stock valued at $185,524,000 after purchasing an additional 311,788 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.