Q3 2016 Earnings Estimate for Knight Transportation Inc. Issued By KeyCorp (KNX)
Knight Transportation Inc. (NYSE:KNX) – Equities researchers at KeyCorp lowered their Q3 2016 EPS estimates for Knight Transportation in a research note issued to investors on Thursday. KeyCorp analyst T. Fowler now forecasts that the firm will post earnings per share of $0.28 for the quarter, down from their previous estimate of $0.29. KeyCorp also issued estimates for Knight Transportation’s Q4 2016 earnings at $0.29 EPS, FY2016 earnings at $1.15 EPS and FY2017 earnings at $1.25 EPS.
Knight Transportation (NYSE:KNX) last released its earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Knight Transportation had a return on equity of 14.55% and a net margin of 9.37%. The firm had revenue of $276.30 million for the quarter, compared to the consensus estimate of $283.13 million. During the same period in the prior year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year.
Other analysts also recently issued research reports about the company. Barclays PLC lifted their target price on Knight Transportation from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, September 12th. BB&T Corp. reaffirmed a “hold” rating on shares of Knight Transportation in a research note on Friday, July 1st. Zacks Investment Research upgraded Knight Transportation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Deutsche Bank AG lifted their price target on Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Finally, Macquarie cut Knight Transportation from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $27.00 in a research report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. Knight Transportation has an average rating of “Hold” and an average target price of $27.06.
Knight Transportation (NYSE:KNX) opened at 28.37 on Monday. The stock has a market capitalization of $2.27 billion, a P/E ratio of 21.64 and a beta of 0.83. Knight Transportation has a 52-week low of $20.56 and a 52-week high of $30.38. The company’s 50-day moving average price is $28.61 and its 200 day moving average price is $27.30.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.24 dividend on an annualized basis and a yield of 0.85%. Knight Transportation’s payout ratio is 18.18%.
In related news, Vice Chairman Gary J. Knight sold 99,339 shares of Knight Transportation stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $28.09, for a total transaction of $2,790,432.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin P. Knight sold 500,000 shares of Knight Transportation stock in a transaction on Friday, August 5th. The shares were sold at an average price of $28.86, for a total value of $14,430,000.00. The disclosure for this sale can be found here. Corporate insiders own 11.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Knight Transportation during the second quarter worth about $107,000. BlackRock Inc. boosted its stake in Knight Transportation by 125.3% in the first quarter. BlackRock Inc. now owns 4,206 shares of the company’s stock worth $109,000 after buying an additional 2,339 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Knight Transportation by 3,916.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,418 shares of the company’s stock worth $118,000 after buying an additional 4,308 shares during the last quarter. Creative Planning boosted its stake in Knight Transportation by 57.1% in the second quarter. Creative Planning now owns 5,500 shares of the company’s stock worth $146,000 after buying an additional 2,000 shares during the last quarter. Finally, Huntington National Bank boosted its stake in Knight Transportation by 7.5% in the second quarter. Huntington National Bank now owns 6,789 shares of the company’s stock worth $180,000 after buying an additional 471 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.
Knight Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. The Company operates primarily in the United States with minor operations in Canada and Mexico.
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