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

Knight-Swift Transportation (NYSE:KNX) updated its first quarter 2024 earnings guidance on Wednesday. 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.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KNX. Bank of America decreased their price objective on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a report on Thursday. TD Cowen decreased their price objective 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. Barclays cut 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 research note on Thursday. Stephens cut their target price on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a research note on Thursday. Finally, Loop Capital cut shares of Knight-Swift Transportation from a buy rating to a hold rating and cut their target price for the company from $63.00 to $53.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $57.77.

Knight-Swift Transportation Trading Up 0.6 %

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

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). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. On average, equities research analysts forecast that Knight-Swift Transportation will post 2.2 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders 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 represents a $0.64 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio is currently 48.12%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of Knight-Swift Transportation in the 4th quarter valued at about $33,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Knight-Swift Transportation by 5.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 473,707 shares of the transportation company’s stock valued at $27,309,000 after purchasing an additional 26,232 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Knight-Swift Transportation by 29.2% in the 4th quarter. Legal & General Group Plc now owns 820,909 shares of the transportation company’s stock valued at $47,325,000 after purchasing an additional 185,561 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Knight-Swift Transportation by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after purchasing an additional 57,000 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in shares of Knight-Swift Transportation by 14.1% in the 4th quarter. Vident Advisory LLC now owns 203,082 shares of the transportation company’s stock valued at $11,708,000 after purchasing an additional 25,135 shares during the last quarter. Institutional investors 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.