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

Knight-Swift Transportation Stock Performance

Shares of KNX stock traded down $1.06 during mid-day trading on Thursday, reaching $47.45. The stock had a trading volume of 1,590,152 shares, compared to its average volume of 2,131,403. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.66 billion, a PE ratio of 35.23, a P/E/G ratio of 2.51 and a beta of 0.99. Knight-Swift Transportation has a one year low of $45.73 and a one year high of $60.99. The firm’s 50 day simple moving average is $53.94 and its 200 day simple moving average is $54.22.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the business earned $0.73 EPS. Knight-Swift Transportation’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts forecast that Knight-Swift Transportation will post 1.31 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 7th. Knight-Swift Transportation’s payout ratio is 48.12%.

Analyst Upgrades and Downgrades

KNX has been the topic of several analyst reports. Bank of America dropped their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating on the stock in a report on Thursday, April 18th. Stephens decreased their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a research report on Thursday, April 18th. JPMorgan Chase & Co. decreased their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research report on Tuesday, April 9th. Loop Capital downgraded Knight-Swift Transportation from a buy rating to a hold rating and reduced their price target for the stock from $63.00 to $53.00 in a research report on Thursday, April 18th. Finally, Susquehanna cut their target price on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $58.14.

Insider Activity

In other news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction dated 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 directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.00% 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.