KeyCorp Brokers Reduce Earnings Estimates for Knight-Swift Transportation Holdings Inc. (NYSE:KNX)
Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) – KeyCorp decreased their Q3 2022 earnings per share estimates for shares of Knight-Swift Transportation in a report released on Thursday, September 29th. KeyCorp analyst T. Fowler now expects that the transportation company will post earnings per share of $1.33 for the quarter, down from their previous estimate of $1.34. The consensus estimate for Knight-Swift Transportation’s current full-year earnings is $5.39 per share. KeyCorp also issued estimates for Knight-Swift Transportation’s FY2023 earnings at $5.00 EPS.
Knight-Swift Transportation (NYSE:KNX – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The transportation company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.35 by $0.06. Knight-Swift Transportation had a return on equity of 14.44% and a net margin of 12.26%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the company earned $0.98 EPS. Knight-Swift Transportation’s revenue for the quarter was up 49.1% on a year-over-year basis.
KNX has been the subject of a number of other reports. Evercore ISI upgraded Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Tuesday, July 12th. Susquehanna Bancshares boosted their price target on Knight-Swift Transportation from $64.00 to $65.00 and gave the company a “positive” rating in a research note on Thursday, July 21st. Wells Fargo & Company cut their price target on Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Wolfe Research upgraded Knight-Swift Transportation from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, July 12th. Finally, Barclays lowered their price objective on Knight-Swift Transportation from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.94.
Knight-Swift Transportation Trading Down 1.7 %
Knight-Swift Transportation stock opened at $48.93 on Monday. The business has a 50-day simple moving average of $51.93 and a two-hundred day simple moving average of $49.58. The company has a market cap of $7.86 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.62 and a beta of 1.26. Knight-Swift Transportation has a 52-week low of $42.50 and a 52-week high of $62.29. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.22.
Knight-Swift Transportation Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Monday, September 5th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Thursday, September 1st. Knight-Swift Transportation’s payout ratio is 8.97%.
Insiders Place Their Bets
In other Knight-Swift Transportation news, EVP James E. Jr. Updike sold 2,400 shares of Knight-Swift Transportation stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $55.18, for a total value of $132,432.00. Following the sale, the executive vice president now owns 19,944 shares of the company’s stock, valued at approximately $1,100,509.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.
Institutional Trading of Knight-Swift Transportation
Large investors have recently added to or reduced their stakes in the company. Nicollet Investment Management Inc. lifted its stake in shares of Knight-Swift Transportation by 1.3% during the 2nd quarter. Nicollet Investment Management Inc. now owns 17,789 shares of the transportation company’s stock worth $823,000 after purchasing an additional 236 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Knight-Swift Transportation by 2.4% during the 2nd quarter. Exchange Traded Concepts LLC now owns 10,799 shares of the transportation company’s stock worth $500,000 after purchasing an additional 248 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in Knight-Swift Transportation by 1.2% in the second quarter. Rehmann Capital Advisory Group now owns 22,984 shares of the transportation company’s stock valued at $1,064,000 after buying an additional 269 shares during the last quarter. Highland Capital Management LLC raised its stake in Knight-Swift Transportation by 0.7% in the first quarter. Highland Capital Management LLC now owns 44,864 shares of the transportation company’s stock valued at $2,264,000 after buying an additional 290 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Knight-Swift Transportation by 336.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 436 shares of the transportation company’s stock valued at $27,000 after buying an additional 336 shares during the last quarter. Institutional investors own 89.64% of the company’s stock.
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 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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