FY2019 EPS Estimates for Swift Transportation Company (KNX) Lowered by Analyst
Swift Transportation Company (NYSE:KNX) – Equities research analysts at Seaport Global Securities reduced their FY2019 EPS estimates for Swift Transportation in a research note issued to investors on Tuesday. Seaport Global Securities analyst R. Wood now anticipates that the transportation company will post earnings per share of $2.20 for the year, down from their previous estimate of $2.22. Seaport Global Securities has a “Buy” rating on the stock.
A number of other equities analysts also recently weighed in on KNX. ValuEngine upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Zacks Investment Research downgraded Swift Transportation from a “buy” rating to a “hold” rating in a research note on Saturday, July 29th. UBS AG cut their target price on Swift Transportation from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday. J P Morgan Chase & Co assumed coverage on Swift Transportation in a research note on Thursday, October 12th. They issued a “neutral” rating and a $39.00 target price on the stock. Finally, BidaskClub upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $41.13.
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Shares of Swift Transportation (NYSE:KNX) traded down $0.27 on Thursday, reaching $38.38. The company’s stock had a trading volume of 2,604,891 shares, compared to its average volume of 1,702,475. The firm has a market cap of $6,880.00, a P/E ratio of 29.18 and a beta of 0.92. Swift Transportation has a 52-week low of $26.68 and a 52-week high of $44.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.32 and a quick ratio of 1.41.
Swift Transportation (NYSE:KNX) last issued its earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.05). Swift Transportation had a net margin of 2.44% and a return on equity of 7.48%. The business had revenue of $521.61 million during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business posted $0.34 EPS.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 1st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.63%.
In related news, General Counsel Todd F. Carlson sold 3,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $37.86, for a total value of $113,580.00. Following the transaction, the general counsel now owns 23,638 shares of the company’s stock, valued at $894,934.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of KNX. BlackRock Inc. boosted its position in Swift Transportation by 129,468.0% during the first quarter. BlackRock Inc. now owns 7,898,465 shares of the transportation company’s stock valued at $247,616,000 after buying an additional 7,892,369 shares during the period. Bank of New York Mellon Corp boosted its position in Swift Transportation by 97.1% during the third quarter. Bank of New York Mellon Corp now owns 8,427,755 shares of the transportation company’s stock valued at $350,174,000 after buying an additional 4,151,669 shares during the period. Teachers Advisors LLC boosted its position in Swift Transportation by 1,098.3% during the second quarter. Teachers Advisors LLC now owns 1,381,195 shares of the transportation company’s stock valued at $51,173,000 after buying an additional 1,265,934 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Swift Transportation by 10,372.6% during the second quarter. Citadel Advisors LLC now owns 1,219,634 shares of the transportation company’s stock worth $45,187,000 after purchasing an additional 1,207,988 shares during the period. Finally, Artemis Investment Management LLP boosted its holdings in shares of Swift Transportation by 1,958.7% during the third quarter. Artemis Investment Management LLP now owns 1,152,833 shares of the transportation company’s stock worth $47,877,000 after purchasing an additional 1,096,835 shares during the period.
Swift Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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