Knight-Swift Transportation (NYSE:KNX) Releases Q1 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.190-0.200 for the period, compared to the consensus estimate of 0.290. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Knight-Swift Transportation Trading Up 0.6 %

Shares of Knight-Swift Transportation stock opened at $48.16 on Friday. The firm has a 50-day moving average of $54.60 and a 200-day moving average of $54.18. The stock has a market cap of $7.78 billion, a PE ratio of 36.21, a PEG ratio of 1.45 and a beta of 0.99. Knight-Swift Transportation has a 52-week low of $45.73 and a 52-week high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. As a group, sell-side analysts forecast that Knight-Swift Transportation will post 2.2 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.33%. 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. Knight-Swift Transportation’s payout ratio is 48.12%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stephens dropped their price target on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a research note on Thursday. Loop Capital downgraded Knight-Swift Transportation from a buy rating to a hold rating and dropped their price target for the company from $63.00 to $53.00 in a research note on Thursday. TD Cowen dropped their price target on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a research note on Thursday. Bank of America dropped their price target on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a research note on Thursday. Finally, Barclays dropped their price target on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $57.77.

Insider Activity

In other news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the transaction, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Knight-Swift Transportation by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after buying an additional 57,000 shares during the period. Wellington Management Group LLP increased its stake in shares of Knight-Swift Transportation by 13.4% in the first quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock valued at $414,739,000 after buying an additional 972,139 shares during the period. State Street Corp increased its stake in shares of Knight-Swift Transportation by 2.7% in the first quarter. State Street Corp now owns 6,314,648 shares of the transportation company’s stock valued at $318,637,000 after buying an additional 166,644 shares during the period. Morgan Stanley increased its stake in shares of Knight-Swift Transportation by 8.4% in the fourth quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock valued at $262,859,000 after buying an additional 387,501 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Knight-Swift Transportation by 2.8% in the first quarter. Invesco Ltd. now owns 2,949,555 shares of the transportation company’s stock valued at $148,834,000 after buying an additional 80,322 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.