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 earnings per share guidance of $0.26-$0.30 for the period, compared to the consensus earnings per share estimate of $0.34. Knight-Swift Transportation also updated its Q3 guidance to $0.31-$0.35 EPS.

Knight-Swift Transportation Price Performance

KNX traded down $0.67 during trading on Friday, hitting $46.47. The company’s stock had a trading volume of 2,468,124 shares, compared to its average volume of 2,165,297. The firm’s 50 day moving average price is $53.72 and its two-hundred day moving average price is $54.17. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation has a 12 month low of $45.73 and a 12 month high of $60.99. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 70.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.53%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. Sell-side analysts forecast that Knight-Swift Transportation will post 1.31 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid 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 1.38%. Knight-Swift Transportation’s payout ratio is 95.52%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KNX shares. Barclays decreased their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a research note on Thursday, April 18th. Stephens cut their price target on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a report on Thursday, April 18th. Loop Capital lowered 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 report on Thursday, April 18th. JPMorgan Chase & Co. dropped their price objective on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Finally, Evercore ISI decreased their target price on Knight-Swift Transportation from $60.00 to $55.00 and set an in-line rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $57.71.

Insiders Place Their Bets

In other news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction on 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 transaction, the chief accounting officer now directly owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

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.