Zacks: Analysts Expect Knight Transportation, Inc. (KNX) Will Announce Quarterly Sales of $284.29 Million
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.
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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.
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