Knight-Swift Transportation (NYSE:KNX) Issues Q1 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.190-0.200 for the period, compared to the consensus EPS estimate of 0.290. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX opened at $47.88 on Friday. The stock has a 50 day moving average price of $54.83 and a 200 day moving average price of $54.19. Knight-Swift Transportation has a 52 week low of $45.73 and a 52 week high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $7.73 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.38). The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. Analysts predict 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. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 7th. This represents a $0.64 annualized dividend and a yield of 1.34%. Knight-Swift Transportation’s dividend payout ratio is currently 48.12%.

Wall Street Analysts Forecast Growth

KNX has been the topic of several research analyst reports. Bank of America dropped their price objective on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating on the stock in a research note on Thursday. Stifel Nicolaus dropped their price objective on Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating on the stock in a research note on Thursday. Stephens lowered their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a research note on Thursday. 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 research note on Thursday. Finally, Loop Capital lowered Knight-Swift Transportation from a buy rating to a hold rating and lowered their target price for the stock from $63.00 to $53.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $57.77.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its position in Knight-Swift Transportation by 8.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock worth $131,000 after buying an additional 190 shares in the last quarter. Belpointe Asset Management LLC grew its position in Knight-Swift Transportation by 21.8% during the first quarter. Belpointe Asset Management LLC now owns 1,285 shares of the transportation company’s stock worth $73,000 after buying an additional 230 shares in the last quarter. Pathstone Family Office LLC boosted its holdings in shares of Knight-Swift Transportation by 4.8% in the 4th quarter. Pathstone Family Office LLC now owns 5,795 shares of the transportation company’s stock valued at $298,000 after purchasing an additional 266 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Knight-Swift Transportation by 2.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,922 shares of the transportation company’s stock valued at $731,000 after purchasing an additional 297 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Knight-Swift Transportation by 2.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 12,147 shares of the transportation company’s stock valued at $675,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

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.