Knight-Swift Transportation (NYSE:KNX) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

kopsource · Oct 21, 2022 19:44

Knight-Swift Transportation (NYSE:KNX – Get Rating) posted its earnings results on Wednesday. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.05), Briefing.com reports. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Knight-Swift Transportation had a net margin of 12.26% and a return on equity of 14.44%. The business's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.30 EPS. Knight-Swift Transportation updated its FY22 guidance to $5.17-5.22 EPS.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $46.50 on Friday. 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 has a fifty-two week low of $42.50 and a fifty-two week high of $62.29. The firm has a 50-day simple moving average of $50.65 and a 200 day simple moving average of $49.21. The company has a market cap of $7.47 billion, a PE ratio of 8.72, a P/E/G ratio of 0.62 and a beta of 1.19.

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Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Monday, September 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, September 1st. Knight-Swift Transportation's dividend payout ratio is presently 9.01%.

Insider Activity at Knight-Swift Transportation

In related news, EVP James E. Jr. Updike sold 2,400 shares of the business's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $55.18, for a total transaction of $132,432.00. Following the completion of the sale, the executive vice president now owns 19,944 shares of the company's stock, valued at approximately $1,100,509.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors have recently modified their holdings of the business. Covestor Ltd grew its position in shares of Knight-Swift Transportation by 62.5% during the 1st quarter. Covestor Ltd now owns 1,905 shares of the transportation company's stock valued at $96,000 after buying an additional 733 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in Knight-Swift Transportation by 543.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company's stock valued at $47,000 after purchasing an additional 793 shares during the period. Captrust Financial Advisors boosted its stake in Knight-Swift Transportation by 29.6% during the 2nd quarter. Captrust Financial Advisors now owns 3,832 shares of the transportation company's stock valued at $177,000 after purchasing an additional 875 shares during the period. First Republic Investment Management Inc. boosted its stake in Knight-Swift Transportation by 10.5% during the 1st quarter. First Republic Investment Management Inc. now owns 22,624 shares of the transportation company's stock valued at $1,142,000 after purchasing an additional 2,151 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Knight-Swift Transportation by 23.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the transportation company's stock valued at $706,000 after purchasing an additional 2,677 shares during the period. Institutional investors own 89.64% of the company's stock.

Wall Street Analysts Forecast Growth

KNX has been the topic of several recent research reports. KeyCorp reduced their target price on shares of Knight-Swift Transportation from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday. Evercore ISI dropped their price target on shares of Knight-Swift Transportation from $59.00 to $57.00 and set an "outperform" rating on the stock in a research note on Thursday. Barclays dropped their price target on shares of Knight-Swift Transportation from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 12th. StockNews.com assumed coverage on shares of Knight-Swift Transportation in a research note on Wednesday, October 12th. They set a "hold" rating on the stock. Finally, Susquehanna dropped their price target on shares of Knight-Swift Transportation from $64.00 to $63.00 and set a "positive" rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $60.28.

About Knight-Swift Transportation

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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.