Q3 2024 EPS Estimates for Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Reduced by Analyst

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) – Equities research analysts at Zacks Research lowered their Q3 2024 EPS estimates for shares of Knight-Swift Transportation in a research report issued to clients and investors on Tuesday, September 24th. Zacks Research analyst S. Goswami now expects that the transportation company will post earnings of $0.35 per share for the quarter, down from their prior estimate of $0.36. The consensus estimate for Knight-Swift Transportation’s current full-year earnings is $1.10 per share.

Other equities analysts have also issued reports about the stock. StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. Evercore ISI reduced their price target on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Wells Fargo & Company started coverage on Knight-Swift Transportation in a research report on Friday, June 7th. They issued an “overweight” rating and a $56.00 price objective on the stock. Susquehanna boosted their target price on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wolfe Research lowered Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Knight-Swift Transportation Stock Up 2.5 %

KNX stock opened at $54.04 on Friday. The stock has a 50-day simple moving average of $52.16 and a two-hundred day simple moving average of $50.67. Knight-Swift Transportation has a twelve month low of $45.55 and a twelve month high of $60.99. The firm has a market capitalization of $8.75 billion, a PE ratio of 80.66, a PEG ratio of 1.47 and a beta of 0.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the business earned $0.49 earnings per share. Knight-Swift Transportation’s revenue was up 18.9% on a year-over-year basis.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 95.52%.

Insider Activity

In other news, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total transaction of $101,140.00. Following the transaction, the director now directly owns 17,648 shares of the company’s stock, valued at $892,459.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Knight-Swift Transportation news, Director Michael Garnreiter sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total value of $101,140.00. Following the completion of the sale, the director now owns 17,648 shares in the company, valued at $892,459.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the completion of the transaction, the director now owns 21,833 shares in the company, valued at approximately $1,164,135.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,196 shares of company stock valued at $4,367,869. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds have recently modified their holdings of KNX. Commonwealth Equity Services LLC grew its stake in shares of Knight-Swift Transportation by 0.8% in the second quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock worth $1,230,000 after purchasing an additional 196 shares during the last quarter. United Services Automobile Association boosted its stake in shares of Knight-Swift Transportation by 1.6% during the 2nd quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock valued at $637,000 after purchasing an additional 199 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after buying an additional 200 shares in the last quarter. Sompo Asset Management Co. Ltd. lifted its holdings in Knight-Swift Transportation by 4.8% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 5,000 shares of the transportation company’s stock worth $288,000 after buying an additional 230 shares during the period. Finally, MQS Management LLC boosted its position in Knight-Swift Transportation by 3.7% during the 2nd quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock valued at $348,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.