Analysts predict that Knight-Swift Transportation Holdings Inc (NYSE:KNX) will report sales of $1.14 billion for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Knight-Swift Transportation’s earnings, with the lowest sales estimate coming in at $1.09 billion and the highest estimate coming in at $1.17 billion. Knight-Swift Transportation reported sales of $1.20 billion during the same quarter last year, which indicates a negative year over year growth rate of 5%. The firm is scheduled to issue its next earnings results on Wednesday, October 28th.
On average, analysts expect that Knight-Swift Transportation will report full-year sales of $4.57 billion for the current year, with estimates ranging from $4.40 billion to $4.77 billion. For the next year, analysts forecast that the business will post sales of $4.82 billion, with estimates ranging from $4.60 billion to $5.12 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Knight-Swift Transportation.
Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. Knight-Swift Transportation had a net margin of 6.28% and a return on equity of 6.14%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion.
Several brokerages have issued reports on KNX. Citigroup lifted their target price on shares of Knight-Swift Transportation from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. UBS Group boosted their price target on shares of Knight-Swift Transportation from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. KeyCorp upped their target price on shares of Knight-Swift Transportation from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Zacks Investment Research raised shares of Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research report on Monday, July 27th. Finally, Stifel Nicolaus boosted their price target on shares of Knight-Swift Transportation from $40.00 to $45.00 in a research note on Thursday, July 23rd. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.47.
In other news, Chairman Kevin P. Knight sold 100,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $42.24, for a total value of $4,224,000.00. Following the completion of the sale, the chairman now directly owns 3,317 shares of the company’s stock, valued at $140,110.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Wayne Yu sold 1,085 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $41.55, for a total value of $45,081.75. Following the completion of the sale, the chief accounting officer now directly owns 17,630 shares of the company’s stock, valued at $732,526.50. The disclosure for this sale can be found here. Insiders sold 314,939 shares of company stock valued at $13,758,081 over the last three months. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of KNX. Twin Tree Management LP lifted its holdings in shares of Knight-Swift Transportation by 101.4% during the first quarter. Twin Tree Management LP now owns 786 shares of the transportation company’s stock worth $26,000 after purchasing an additional 58,086 shares during the period. Bartlett & Co. LLC acquired a new stake in shares of Knight-Swift Transportation during the first quarter worth $41,000. CSat Investment Advisory L.P. lifted its holdings in shares of Knight-Swift Transportation by 20.6% during the first quarter. CSat Investment Advisory L.P. now owns 1,605 shares of the transportation company’s stock worth $53,000 after purchasing an additional 274 shares during the period. Signaturefd LLC lifted its holdings in shares of Knight-Swift Transportation by 68.4% during the second quarter. Signaturefd LLC now owns 1,359 shares of the transportation company’s stock worth $57,000 after purchasing an additional 552 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Knight-Swift Transportation by 102.6% during the first quarter. Fifth Third Bancorp now owns 2,000 shares of the transportation company’s stock worth $66,000 after purchasing an additional 1,013 shares during the period. 85.50% of the stock is owned by institutional investors and hedge funds.
NYSE:KNX opened at $42.28 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.86. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The company has a 50 day moving average price of $43.14 and a 200-day moving average price of $38.01. Knight-Swift Transportation has a 1-year low of $27.54 and a 1-year high of $47.32.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Thursday, September 3rd. Knight-Swift Transportation’s payout ratio is currently 14.75%.
Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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