Knight-Swift Transportation (NYSE:KNX) Releases 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 (EPS) guidance of $0.26-$0.30 for the period, compared to the consensus estimate of $0.34. Knight-Swift Transportation also updated its Q3 guidance to $0.31-$0.35 EPS.

Knight-Swift Transportation Price Performance

Shares of KNX stock traded down $0.72 during midday trading on Wednesday, reaching $48.51. 3,298,149 shares of the company traded hands, compared to its average volume of 2,138,811. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. Knight-Swift Transportation has a 1-year low of $45.73 and a 1-year high of $60.99. The firm has a market cap of $7.83 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 2.46 and a beta of 0.99. The firm’s 50 day simple moving average is $54.15 and its two-hundred day simple moving average is $54.26.

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 the consensus estimate 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 company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. On average, equities research analysts expect that Knight-Swift Transportation will post 1.31 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis 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 was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio is 48.12%.

Analyst Ratings Changes

KNX has been the subject of a number of research reports. Bank of America decreased their price target on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a research report on Thursday, April 18th. Loop Capital lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and cut their price objective for the stock from $63.00 to $53.00 in a report on Thursday, April 18th. TD Cowen cut their target price on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Stephens cut their target price on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a research note on Thursday, April 18th. Finally, Stifel Nicolaus cut their target price on shares of Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating on the stock in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Knight-Swift Transportation has a consensus rating of Moderate Buy and a consensus price target of $57.77.

Insiders Place Their Bets

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 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 $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by 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.