Swift Transportation Company (KNX) Expected to Post Quarterly Sales of $1.36 Billion
Wall Street brokerages forecast that Swift Transportation Company (NYSE:KNX) will post $1.36 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Swift Transportation’s earnings, with estimates ranging from $1.30 billion to $1.41 billion. Swift Transportation posted sales of $1.04 billion in the same quarter last year, which would indicate a positive year over year growth rate of 30.8%. The company is scheduled to announce its next earnings report on Thursday, January 25th.
On average, analysts expect that Swift Transportation will report full-year sales of $1.36 billion for the current financial year, with estimates ranging from $4.37 billion to $4.41 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.45 billion per share, with estimates ranging from $5.25 billion to $5.64 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Swift Transportation.
Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Monday, November 6th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The firm had revenue of $521.61 million during the quarter, compared to the consensus estimate of $1.33 billion. Swift Transportation had a return on equity of 7.48% and a net margin of 2.44%. During the same quarter last year, the company posted $0.34 EPS.
A number of equities research analysts have recently commented on KNX shares. ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Zacks Investment Research cut Swift Transportation from a “buy” rating to a “hold” rating in a research note on Saturday, July 29th. Seaport Global Securities reissued a “buy” rating on shares of Swift Transportation in a research note on Thursday, September 21st. 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, November 7th. Finally, KeyCorp raised Swift Transportation from a “sector weight” rating to an “overweight” rating in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Swift Transportation has an average rating of “Buy” and an average price target of $41.13.
In other Swift Transportation news, Director Michael Garnreiter sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $38.50, for a total value of $96,250.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Todd F. Carlson sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $39.24, for a total value of $353,160.00. The disclosure for this sale can be found here. Company insiders own 44.90% of the company’s stock.
A number of large investors have recently made changes to their positions in KNX. Bank of New York Mellon Corp boosted its position in Swift Transportation by 97.1% in the third quarter. Bank of New York Mellon Corp now owns 8,427,755 shares of the transportation company’s stock worth $350,174,000 after purchasing an additional 4,151,669 shares during the last quarter. Teachers Advisors LLC boosted its position in Swift Transportation by 1,098.3% in the second quarter. Teachers Advisors LLC now owns 1,381,195 shares of the transportation company’s stock worth $51,173,000 after purchasing an additional 1,265,934 shares during the last quarter. Citadel Advisors LLC boosted its position in Swift Transportation by 10,372.6% in 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 last quarter. Artemis Investment Management LLP boosted its position in Swift Transportation by 1,958.7% in 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 last quarter. Finally, Balyasny Asset Management LLC purchased a new position in Swift Transportation in the second quarter worth about $30,414,000. 65.87% of the stock is currently owned by institutional investors and hedge funds.
Swift Transportation (KNX) traded up $0.57 during midday trading on Friday, hitting $39.67. The stock had a trading volume of 1,624,146 shares, compared to its average volume of 1,733,460. Swift Transportation has a 52-week low of $26.68 and a 52-week high of $44.45. The stock has a market capitalization of $6,960.00, a PE ratio of 29.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 1st will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.60%.
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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