Knight-Swift Transportation (NYSE:KNX) Releases Q2 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.260-0.300 for the period, compared to the consensus estimate of 0.480. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Knight-Swift Transportation Price Performance

KNX opened at $48.58 on Thursday. Knight-Swift Transportation has a one year low of $45.73 and a one year high of $60.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50 day simple moving average is $55.07 and its 200-day simple moving average is $54.23. The stock has a market capitalization of $7.85 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Sell-side analysts anticipate that Knight-Swift Transportation will post 2.3 earnings per share 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. Shareholders of record on Friday, March 8th were paid a $0.16 dividend. 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 yield of 1.32%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 48.12%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of 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. Susquehanna cut their target price on shares of Knight-Swift Transportation from $62.00 to $59.00 and set a neutral rating on the stock in a report on Monday, March 25th. Stifel Nicolaus increased their target price on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Finally, Barclays cut their target price on shares of Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating on the stock in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $62.75.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction 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 in the company, valued at $287,836.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KNX. Norges Bank acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at $90,026,000. Wellington Management Group LLP increased its stake in Knight-Swift Transportation by 13.4% in the 1st quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock valued at $414,739,000 after buying an additional 972,139 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Knight-Swift Transportation by 94.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock valued at $85,249,000 after acquiring an additional 892,933 shares during the period. Renaissance Technologies LLC bought a new position in shares of Knight-Swift Transportation in the 1st quarter valued at about $27,013,000. Finally, Morgan Stanley grew its position in shares of Knight-Swift Transportation by 8.4% in the 4th quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock valued at $262,859,000 after acquiring an additional 387,501 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.