Analysts expect that Knight Transportation, Inc. (NYSE:KNX) will announce sales of $284.29 million for the current quarter, Zacks reports. Six analysts have provided estimates for Knight Transportation’s earnings, with estimates ranging from $276.00 million to $297.92 million. Knight Transportation reported sales of $280.53 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.3%. The company is scheduled to report its next earnings report on Wednesday, October 25th.

According to Zacks, analysts expect that Knight Transportation will report full-year sales of $284.29 million for the current fiscal year, with estimates ranging from $1.11 billion to $1.15 billion. For the next year, analysts anticipate that the firm will post sales of $1.22 billion per share, with estimates ranging from $1.18 billion to $1.29 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Knight Transportation.

Knight Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. Knight Transportation had a return on equity of 10.39% and a net margin of 7.03%. The company had revenue of $273.20 million during the quarter, compared to analysts’ expectations of $283.88 million. During the same quarter in the previous year, the business earned $0.31 EPS. Knight Transportation’s revenue was down 1.1% compared to the same quarter last year.

Several equities research analysts have issued reports on KNX shares. Zacks Investment Research raised Knight Transportation from a “sell” rating to a “hold” rating and set a $41.00 target price for the company in a research note on Wednesday, July 5th. BidaskClub raised Knight Transportation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 30th. Bank of America Corporation reaffirmed a “buy” rating and issued a $43.00 price objective (up from $41.00) on shares of Knight Transportation in a research note on Monday, July 10th. Buckingham Research started coverage on Knight Transportation in a research note on Monday, August 21st. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Stephens raised Knight Transportation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $36.00 to $42.00 in a research note on Monday, June 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $38.44.

ILLEGAL ACTIVITY WARNING: This news story was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this news story can be accessed at https://www.watchlistnews.com/zacks-analysts-expect-knight-transportation-inc-knx-will-announce-quarterly-sales-of-284-29-million/1537186.html.

In other Knight Transportation news, General Counsel Todd F. Carlson sold 3,000 shares of Knight Transportation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $37.86, for a total transaction of $113,580.00. Following the completion of the sale, the general counsel now directly owns 23,638 shares of the company’s stock, valued at approximately $894,934.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G D. Madden sold 1,875 shares of Knight Transportation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.52, for a total value of $68,475.00. Following the sale, the director now directly owns 56,011 shares of the company’s stock, valued at $2,045,521.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,675 shares of company stock valued at $282,155. 9.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Knight Transportation by 129,468.0% in the first quarter. BlackRock Inc. now owns 7,898,465 shares of the transportation company’s stock worth $247,616,000 after buying an additional 7,892,369 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Knight Transportation by 45.1% in the second quarter. Bank of New York Mellon Corp now owns 4,276,086 shares of the transportation company’s stock worth $158,429,000 after buying an additional 1,329,855 shares during the period. Teachers Advisors LLC increased its stake in shares of Knight 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 buying an additional 1,265,934 shares during the period. Citadel Advisors LLC increased its stake in shares of Knight 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 buying an additional 1,207,988 shares during the period. Finally, Balyasny Asset Management LLC acquired a new stake in shares of Knight Transportation during the second quarter worth about $30,414,000. 88.45% of the stock is owned by institutional investors.

Knight Transportation (KNX) opened at 39.90 on Friday. The stock has a market cap of $3.22 billion, a PE ratio of 41.13 and a beta of 0.86. The company’s 50-day moving average price is $36.84 and its 200-day moving average price is $34.44. Knight Transportation has a 12-month low of $26.85 and a 12-month high of $40.85.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.60%. Knight Transportation’s dividend payout ratio (DPR) is presently 25.00%.

About Knight Transportation

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.

Get a free copy of the Zacks research report on Knight Transportation (KNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Knight Transportation (NYSE:KNX)

Receive News & Ratings for Knight Transportation Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knight Transportation Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.