Knight-Swift Transportation Holdings Inc (NYSE:KNX) Expected to Post Quarterly Sales of $1.14 Billion
Wall Street analysts expect that Knight-Swift Transportation Holdings Inc (NYSE:KNX) will report sales of $1.14 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Knight-Swift Transportation’s earnings. The highest sales estimate is $1.17 billion and the lowest is $1.09 billion. Knight-Swift Transportation posted sales of $1.20 billion during the same quarter last year, which would indicate a negative year over year growth rate of 5%. The company is scheduled to announce its next earnings results on Wednesday, October 28th.
According to Zacks, analysts expect that Knight-Swift Transportation will report full year sales of $4.55 billion for the current year, with estimates ranging from $4.40 billion to $4.77 billion. For the next year, analysts forecast that the firm will post sales of $4.80 billion, with estimates ranging from $4.60 billion to $5.12 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Knight-Swift Transportation.
Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.22. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. Knight-Swift Transportation had a return on equity of 6.14% and a net margin of 6.28%.
A number of research analysts have recently commented on the company. KeyCorp upped their target price on Knight-Swift Transportation from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Credit Suisse Group raised their target price on shares of Knight-Swift Transportation from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Loop Capital upped their price target on Knight-Swift Transportation from $46.00 to $49.00 in a research report on Tuesday, June 23rd. Zacks Investment Research raised Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research report on Monday, July 27th. Finally, Deutsche Bank upped their target price on Knight-Swift Transportation from $45.00 to $59.00 in a research report on Thursday, July 23rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $49.00.Sub-$1 Gold Stock with 10-Fold Potential Stuns Wall Street (Ad)
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In other news, VP Shannon Breen sold 2,396 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $44.23, for a total transaction of $105,975.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Garnreiter sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $47.25, for a total value of $236,250.00. Following the transaction, the director now owns 9,318 shares in the company, valued at approximately $440,275.50. The disclosure for this sale can be found here. Insiders have sold a total of 199,922 shares of company stock worth $9,229,179 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in KNX. Vanguard Group Inc. lifted its stake in Knight-Swift Transportation by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 11,591,072 shares of the transportation company’s stock valued at $483,464,000 after buying an additional 311,348 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Knight-Swift Transportation by 967.6% in the first quarter. Wellington Management Group LLP now owns 6,548,120 shares of the transportation company’s stock worth $214,779,000 after acquiring an additional 5,934,789 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Knight-Swift Transportation by 2.2% during the first quarter. Alliancebernstein L.P. now owns 6,063,429 shares of the transportation company’s stock worth $198,880,000 after purchasing an additional 131,496 shares in the last quarter. State Street Corp increased its position in shares of Knight-Swift Transportation by 1.7% during the first quarter. State Street Corp now owns 4,338,873 shares of the transportation company’s stock worth $142,315,000 after purchasing an additional 72,324 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Knight-Swift Transportation by 0.4% in the 1st quarter. JPMorgan Chase & Co. now owns 3,248,981 shares of the transportation company’s stock valued at $106,567,000 after purchasing an additional 12,497 shares during the last quarter. 84.35% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:KNX opened at $42.07 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 1.37 and a beta of 1.25. Knight-Swift Transportation has a one year low of $27.54 and a one year high of $47.44. The company has a 50 day moving average of $44.62 and a 200-day moving average of $39.58.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, September 3rd. Knight-Swift Transportation’s payout ratio is presently 14.75%.
About Knight-Swift Transportation
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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