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

Knight-Swift Transportation (NYSE:KNX) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.31-$0.35 for the period, compared to the consensus EPS estimate of $0.49. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Knight-Swift Transportation Stock Performance

NYSE KNX traded down $0.67 on Friday, reaching $46.47. The stock had a trading volume of 2,468,124 shares, compared to its average volume of 2,165,297. 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 has a 12-month low of $45.73 and a 12-month high of $60.99. The business’s 50-day moving average price is $53.72 and its 200 day moving average price is $54.17. The stock has a market cap of $7.50 billion, a P/E 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 quarterly 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). Knight-Swift Transportation had a return on equity of 2.53% and a net margin of 1.50%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the company earned $0.73 EPS. Knight-Swift Transportation’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that Knight-Swift Transportation will post 1.31 earnings per share 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 issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend 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 95.52%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. 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 report on Thursday, April 18th. Loop Capital lowered Knight-Swift Transportation from a buy rating to a hold rating and lowered their target price for the company from $63.00 to $53.00 in a report on Thursday, April 18th. Susquehanna lowered their target price on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating on the stock in a report on Thursday, April 18th. Bank of America lowered their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating on the stock in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. lowered their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $57.71.

Insider Buying and Selling

In related 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 transaction of $112,480.00. Following the transaction, the chief accounting officer now directly owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is currently 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.