Knight-Swift Transportation (NYSE:KNX) Issues Earnings Results

Knight-Swift Transportation (NYSE:KNX) announced its quarterly earnings results on Wednesday. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02, Briefing.com reports. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year.

Knight-Swift Transportation Trading Down 1.5 %

Shares of Knight-Swift Transportation stock traded down $0.80 on Thursday, reaching $51.94. 3,793,221 shares of the company were exchanged, compared to its average volume of 2,070,448. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 126.69, a price-to-earnings-growth ratio of 1.74 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $52.27 and a 200-day moving average price of $50.37.

Knight-Swift Transportation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio is presently 156.10%.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the sale, the director now owns 21,833 shares in the company, valued at approximately $1,164,135.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Kevin P. Knight sold 45,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the transaction, the director now directly owns 21,833 shares in the company, valued at $1,164,135.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,196 shares of company stock worth $4,367,869 in the last quarter. 3.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on KNX shares. UBS Group decreased their target price on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Morgan Stanley decreased their price objective on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday. Evercore ISI lifted their target price on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday. Bank of America boosted their price target on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group cut their price objective on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.88.

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.