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

Knight-Swift Transportation (NYSE:KNX) issued its earnings results 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 net margin of 0.56% and a return on equity of 3.51%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.16 billion.

Knight-Swift Transportation Trading Down 0.2%

NYSE:KNX traded down $0.13 during trading hours on Wednesday, hitting $63.12. The stock had a trading volume of 4,793,862 shares, compared to its average volume of 3,657,989. Knight-Swift Transportation has a one year low of $41.24 and a one year high of $82.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 242.79, a P/E/G ratio of 0.54 and a beta of 1.21. The business’s 50 day moving average is $67.38 and its 200-day moving average is $69.57.

Knight-Swift Transportation Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KNX. Susquehanna dropped their price target on shares of Knight-Swift Transportation from $96.00 to $85.00 and set a “positive” rating for the company in a research note on Friday, October 2nd. Barclays raised their price objective on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Knight-Swift Transportation in a research note on Friday, October 9th. Wall Street Zen lowered shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Zacks Research cut shares of Knight-Swift Transportation from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.83.

Insiders Place Their Bets

In other news, Director David Vander Ploeg sold 2,200 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $52.33, for a total value of $115,126.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Cary M. Flanagan sold 3,600 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $70.82, for a total transaction of $254,952.00. Following the completion of the sale, the chief accounting officer owned 5,405 shares of the company’s stock, valued at approximately $382,782.10. This represents a 39.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 224,954 shares of company stock worth $16,183,454. Company insiders own 2.90% of the company’s stock.

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.