Knight-Swift Transportation (NYSE:KNX) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS


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Knight-Swift Transportation (NYSE:KNX) released its earnings results on Tuesday. The transportation company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.70 by $0.13, MarketWatch Earnings reports. Knight-Swift Transportation had a net margin of 7.30% and a return on equity of 6.97%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis.

NYSE KNX traded down $0.02 on Thursday, hitting $46.54. 11,779 shares of the company were exchanged, compared to its average volume of 1,818,459. The firm has a 50 day moving average of $47.36 and a two-hundred day moving average of $43.02. The company has a market cap of $7.71 billion, a P/E ratio of 23.88, a P/E/G ratio of 0.87 and a beta of 1.19. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04. Knight-Swift Transportation has a 1-year low of $34.58 and a 1-year high of $50.63.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 28th. Stockholders of record on Friday, June 4th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, June 3rd. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.08. Knight-Swift Transportation’s payout ratio is currently 14.75%.

In other Knight-Swift Transportation news, Vice Chairman Gary J. Knight sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 30th. The shares were sold at an average price of $49.00, for a total transaction of $2,450,000.00. Following the transaction, the insider now directly owns 10,285 shares in the company, valued at approximately $503,965. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 49,600 shares of the company’s stock in a transaction dated Friday, April 9th. The shares were sold at an average price of $50.06, for a total value of $2,482,976.00. Following the completion of the sale, the chairman now directly owns 5,509 shares of the company’s stock, valued at $275,780.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 199,600 shares of company stock worth $9,882,976. 27.50% of the stock is owned by corporate insiders.

KNX has been the subject of a number of research analyst reports. Vertical Research initiated coverage on Knight-Swift Transportation in a report on Friday, March 26th. They issued a “buy” rating and a $62.00 target price for the company. Susquehanna restated a “neutral” rating and set a $53.00 price target on shares of Knight-Swift Transportation in a report on Monday. Susquehanna Bancshares cut shares of Knight-Swift Transportation to a “neutral” rating and set a $53.00 price target for the company. in a report on Monday, April 12th. Wolfe Research cut shares of Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a report on Thursday, January 7th. Finally, Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, April 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Knight-Swift Transportation presently has a consensus rating of “Buy” and an average price target of $50.70.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through three segments: Trucking, Logistics, and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

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Earnings History for Knight-Swift Transportation (NYSE:KNX)

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