Knight-Swift Transportation (NYSE:KNX) Issues Q3 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.310-0.350 for the period, compared to the consensus EPS estimate of 0.340. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q3 guidance to $0.32-0.36 EPS.

Knight-Swift Transportation Stock Up 6.2 %

Shares of NYSE KNX traded up $3.05 during mid-day trading on Thursday, hitting $52.03. The company had a trading volume of 6,392,298 shares, compared to its average volume of 2,125,525. The company has a market capitalization of $8.41 billion, a PE ratio of 79.91, a price-to-earnings-growth ratio of 1.32 and a beta of 0.94. The firm has a 50-day simple moving average of $48.67 and a two-hundred day simple moving average of $52.16. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. Knight-Swift Transportation’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. On average, equities analysts expect that Knight-Swift Transportation will post 1.21 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Monday, June 10th. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com upgraded Knight-Swift Transportation to a sell rating in a report on Thursday, July 11th. Stephens reduced their price target on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a report on Thursday, April 18th. Evercore ISI reduced their price target on Knight-Swift Transportation from $55.00 to $53.00 and set an in-line rating for the company in a report on Tuesday, June 25th. Loop Capital cut Knight-Swift Transportation from a buy rating to a hold rating and reduced their price target for the stock from $63.00 to $53.00 in a report on Thursday, April 18th. Finally, Robert W. Baird reduced their price target on Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating for the company in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation currently has an average rating of Moderate Buy and a consensus price target of $56.79.

Knight-Swift Transportation Company Profile

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.