Knight-Swift Transportation (NYSE:KNX) Updates Q3 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.310-0.350 for the period. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Knight-Swift Transportation Stock Performance

Shares of KNX stock traded down $0.25 during mid-day trading on Friday, hitting $46.89. The stock had a trading volume of 3,279,673 shares, compared to its average volume of 2,172,656. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99. The firm has a market cap of $7.57 billion, a PE ratio of 70.36, a PEG ratio of 2.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50-day simple moving average is $53.72 and its 200-day simple moving average is $54.17.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Knight-Swift Transportation had a return on equity of 2.53% and a net margin of 1.50%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. Sell-side analysts anticipate that Knight-Swift Transportation will post 1.31 earnings per share 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 dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. Knight-Swift Transportation’s payout ratio is 95.52%.

Analyst Ratings Changes

KNX has been the subject of a number of recent analyst reports. Susquehanna lowered their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a report on Thursday, April 18th. Robert W. Baird lowered their target price on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating for the company in a report on Thursday. TD Cowen lowered their target price on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a report on Thursday, April 18th. Barclays lowered 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 report on Thursday, April 18th. Finally, Evercore ISI lowered their target price on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an in-line rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $57.71.

Insider Buying and Selling

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the transaction, the chief accounting officer now owns 5,118 shares in the company, valued at $287,836.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

About Knight-Swift Transportation

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.