Knight-Swift Transportation (NYSE:KNX) Issues Quarterly Earnings Results

Knight-Swift Transportation (NYSE:KNX) issued its earnings results on Wednesday. The transportation company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07), Briefing.com reports. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS.

Knight-Swift Transportation Stock Down 3.2 %

KNX traded down $1.53 on Thursday, hitting $46.98. The company had a trading volume of 1,032,650 shares, compared to its average volume of 2,124,490. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 2.51 and a beta of 0.99. 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 fifty day moving average price of $53.94 and a 200-day moving average price of $54.22.

Knight-Swift Transportation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio is currently 48.12%.

Insider Transactions at Knight-Swift Transportation

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 completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KNX. Barclays cut their target price on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Loop Capital downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and dropped their price target for the company from $63.00 to $53.00 in a research note on Thursday, April 18th. TD Cowen decreased their price target on 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. Evercore ISI dropped their target price on Knight-Swift Transportation from $60.00 to $55.00 and set an “in-line” rating for the company in a research report on Thursday. Finally, Bank of America lowered 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 report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.14.

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.