Knight-Swift Transportation (NYSE:KNX) Releases FY22 Earnings Guidance

Knight-Swift Transportation (NYSE:KNXGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.20-5.40 for the period, compared to the Thomson Reuters consensus estimate of $5.24. Knight-Swift Transportation also updated its FY 2022 guidance to $5.200-$5.400 EPS.

KNX has been the topic of several research reports. JPMorgan Chase & Co. reduced their price objective on Knight-Swift Transportation from $54.00 to $52.00 and set an underweight rating on the stock in a report on Friday, April 8th. Susquehanna raised Knight-Swift Transportation from a neutral rating to a positive rating and raised their price objective for the stock from $62.00 to $69.00 in a research report on Friday, March 4th. Susquehanna Bancshares raised Knight-Swift Transportation from a neutral rating to a positive rating and lifted their price target for the stock from $62.00 to $69.00 in a research report on Friday, March 4th. Morgan Stanley boosted their price objective on Knight-Swift Transportation from $79.00 to $85.00 and gave the company an overweight rating in a report on Thursday, January 27th. Finally, Raymond James cut their price target on Knight-Swift Transportation from $62.00 to $50.00 and set an outperform rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $66.18.

Shares of KNX traded up $0.85 during mid-day trading on Wednesday, hitting $48.16. 3,808,425 shares of the company’s stock were exchanged, compared to its average volume of 1,770,564. Knight-Swift Transportation has a fifty-two week low of $44.22 and a fifty-two week high of $62.29. The firm has a market capitalization of $8.00 billion, a P/E ratio of 10.85, a P/E/G ratio of 0.59 and a beta of 1.27. The business’s 50 day moving average is $51.59 and its two-hundred day moving average is $55.04. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNXGet Rating) last announced its earnings results on Wednesday, April 20th. The transportation company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.09. Knight-Swift Transportation had a net margin of 12.39% and a return on equity of 12.66%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was up 49.4% compared to the same quarter last year. On average, equities research analysts forecast that Knight-Swift Transportation will post 5.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 28th. Investors of record on Friday, March 4th were given a $0.12 dividend. The ex-dividend date was Thursday, March 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.10. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 10.81%.

In other news, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $54.37, for a total transaction of $108,740.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dustin Ohlman sold 2,022 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $57.16, for a total transaction of $115,577.52. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its holdings in shares of Knight-Swift Transportation by 36.8% in the 3rd quarter. LPL Financial LLC now owns 12,790 shares of the transportation company’s stock valued at $654,000 after purchasing an additional 3,443 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Knight-Swift Transportation in the 4th quarter valued at $247,000. Millennium Management LLC acquired a new position in shares of Knight-Swift Transportation in the 4th quarter valued at $3,056,000. Legal & General Group Plc boosted its holdings in shares of Knight-Swift Transportation by 0.3% in the 4th quarter. Legal & General Group Plc now owns 728,030 shares of the transportation company’s stock valued at $44,366,000 after purchasing an additional 2,149 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Knight-Swift Transportation by 1.6% in the 4th quarter. Stifel Financial Corp now owns 58,297 shares of the transportation company’s stock valued at $3,553,000 after purchasing an additional 890 shares during the last quarter. 85.99% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Company Profile (Get Rating)

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through four segments: Trucking, Logistics, Less-than-truckload (LTL), and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

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