Knight-Swift Transportation (NYSE:KNX) Updates Q3 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.310-0.350 for the period. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KNX. Barclays reduced their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a report on Thursday, April 18th. Susquehanna reduced their target price on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a report on Thursday, April 18th. Loop Capital downgraded Knight-Swift Transportation from a buy rating to a hold rating and reduced their target price for the company from $63.00 to $53.00 in a report on Thursday, April 18th. Bank of America reduced their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a report on Thursday, April 18th. Finally, Stifel Nicolaus reduced their price objective on Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating for the company in a research note on Thursday, April 18th. One equities research 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. Based on data from MarketBeat, Knight-Swift Transportation presently has a consensus rating of Moderate Buy and a consensus target price of $57.77.

Knight-Swift Transportation Trading Down 1.5 %

Shares of KNX traded down $0.72 during trading hours on Wednesday, hitting $48.51. The stock had a trading volume of 3,351,107 shares, compared to its average volume of 2,139,522. 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 firm has a market cap of $7.83 billion, a P/E ratio of 36.48, a P/E/G ratio of 2.46 and a beta of 0.99. The company’s fifty day simple moving average is $54.15 and its 200 day simple moving average is $54.26. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Equities research analysts forecast that Knight-Swift Transportation will post 1.31 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.32%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 48.12%.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate 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.