Knight-Swift Transportation (NYSE:KNX) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Knight-Swift Transportation (NYSE:KNX) issued its quarterly earnings data on Wednesday. The transportation company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07, FiscalAI reports. Knight-Swift Transportation had a return on equity of 3.51% and a net margin of 0.56%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.16 billion.

Knight-Swift Transportation Stock Down 0.2%

Shares of KNX traded down $0.13 during mid-day trading on Wednesday, hitting $63.12. 4,793,862 shares of the company’s stock were exchanged, compared to its average volume of 3,657,989. The company has a market cap of $10.27 billion, a PE ratio of 242.79, a P/E/G ratio of 0.54 and a beta of 1.21. Knight-Swift Transportation has a 52 week low of $41.24 and a 52 week high of $82.86. The company has a 50-day simple moving average of $67.38 and a 200 day simple moving average of $69.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. Knight-Swift Transportation’s dividend payout ratio is 307.69%.

Insider Activity

In related news, CEO Reid Dove sold 126,864 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $73.13, for a total transaction of $9,277,564.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Vander Ploeg sold 2,200 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $52.33, for a total transaction of $115,126.00. Following the transaction, the director owned 30,252 shares of the company’s stock, valued at $1,583,087.16. The trade was a 6.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 224,954 shares of company stock worth $16,183,454 over the last ninety days. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen downgraded shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Sanford C. Bernstein started coverage on shares of Knight-Swift Transportation in a report on Thursday, September 10th. They issued an “outperform” rating and a $91.00 price target for the company. Zacks Research downgraded shares of Knight-Swift Transportation from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Raymond James Financial raised their price objective on shares of Knight-Swift Transportation from $76.00 to $91.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 2nd. Finally, Benchmark raised their price objective on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.83.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.

Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.