Knight-Swift Transportation (NYSE:KNX – Get Rating) posted its quarterly earnings results on Thursday. The transportation company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.13), Briefing.com reports. Knight-Swift Transportation had a return on equity of 13.98% and a net margin of 11.69%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business earned $1.61 earnings per share. Knight-Swift Transportation’s revenue was down 4.0% on a year-over-year basis. Knight-Swift Transportation updated its FY 2023 guidance to $4.05-$4.25 EPS and its FY23 guidance to $4.05-4.25 EPS.
Knight-Swift Transportation Trading Up 5.5 %
Shares of NYSE KNX traded up $3.18 during midday trading on Friday, reaching $60.92. The company had a trading volume of 1,304,485 shares, compared to its average volume of 1,768,599. Knight-Swift Transportation has a one year low of $42.50 and a one year high of $62.63. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average price is $54.73 and its 200-day moving average price is $52.16. The stock has a market cap of $9.79 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 0.91 and a beta of 1.17.
Knight-Swift Transportation Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 27th. Stockholders of record on Monday, December 5th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Friday, December 2nd. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 9.01%.
Analysts Set New Price Targets
A number of research firms have recently commented on KNX. Susquehanna lowered Knight-Swift Transportation from a “positive” rating to a “neutral” rating and cut their price target for the stock from $63.00 to $60.00 in a report on Monday, January 9th. Barclays lifted their price objective on Knight-Swift Transportation from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. Morgan Stanley lifted their price objective on Knight-Swift Transportation from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. Wells Fargo & Company lifted their price objective on Knight-Swift Transportation from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Susquehanna Bancshares dropped their price objective on Knight-Swift Transportation from $64.00 to $63.00 and set a “positive” rating for the company in a research note on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.06.
Institutional Investors Weigh In On Knight-Swift Transportation
A number of hedge funds and other institutional investors have recently modified their holdings of KNX. Vanguard Group Inc. raised its position in Knight-Swift Transportation by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,894,447 shares of the transportation company’s stock valued at $701,114,000 after purchasing an additional 84,898 shares during the last quarter. Wellington Management Group LLP raised its position in Knight-Swift Transportation by 13.4% during the 1st quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock valued at $414,739,000 after purchasing an additional 972,139 shares during the last quarter. State Street Corp raised its position in Knight-Swift Transportation by 2.7% during the 1st quarter. State Street Corp now owns 6,314,648 shares of the transportation company’s stock valued at $318,637,000 after purchasing an additional 166,644 shares during the last quarter. Invesco Ltd. raised its position in Knight-Swift Transportation by 2.8% during the 1st quarter. Invesco Ltd. now owns 2,949,555 shares of the transportation company’s stock valued at $148,834,000 after purchasing an additional 80,322 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Knight-Swift Transportation by 94.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock worth $85,249,000 after acquiring an additional 892,933 shares in the last quarter. Institutional investors own 89.95% of the company’s stock.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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