KeyCorp Weighs in on Knight-Swift Transportation Holdings Inc.'s FY2023 Earnings (NYSE:KNX)

Defense World · Oct 24, 2022 14:41

Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) – Investment analysts at KeyCorp decreased their FY2023 earnings per share estimates for shares of Knight-Swift Transportation in a report released on Wednesday, October 19th. KeyCorp analyst T. Fowler now forecasts that the transportation company will post earnings of $4.50 per share for the year, down from their previous estimate of $5.00. KeyCorp currently has a "Overweight" rating and a $60.00 price target on the stock. The consensus estimate for Knight-Swift Transportation's current full-year earnings is $5.19 per share.

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Several other research analysts have also recently weighed in on the stock. Susquehanna Bancshares reduced their price target on shares of Knight-Swift Transportation from $64.00 to $63.00 and set a "positive" rating for the company in a report on Thursday. Raymond James dropped their price target on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an "outperform" rating on the stock in a research report on Thursday. Evercore ISI lowered their price objective 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. Susquehanna cut their target price on shares of Knight-Swift Transportation from $64.00 to $63.00 and set a "positive" rating for the company in a research note on Thursday. Finally, Wolfe Research raised Knight-Swift Transportation from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Knight-Swift Transportation Stock Up 0.9 %

Shares of KNX opened at $46.90 on Monday. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 0.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.62. The business's fifty day moving average price is $50.47 and its two-hundred day moving average price is $49.27. Knight-Swift Transportation has a 52 week low of $42.50 and a 52 week high of $62.29.

Knight-Swift Transportation (NYSE:KNX – Get Rating) last issued its earnings results on Wednesday, October 19th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.05). Knight-Swift Transportation had a return on equity of 13.98% and a net margin of 11.69%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The company's quarterly revenue was up 15.5% on a year-over-year basis.

Institutional Trading of Knight-Swift Transportation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Financial Group LLC acquired a new stake in Knight-Swift Transportation in the 1st quarter valued at $26,000. Ronald Blue Trust Inc. increased its position in shares of Knight-Swift Transportation by 267.9% during the third quarter. Ronald Blue Trust Inc. now owns 574 shares of the transportation company's stock worth $26,000 after acquiring an additional 418 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Knight-Swift Transportation in the 2nd quarter worth about $28,000. TCI Wealth Advisors Inc. raised its holdings in shares of Knight-Swift Transportation by 263.9% in the 1st quarter. TCI Wealth Advisors Inc. now owns 655 shares of the transportation company's stock worth $33,000 after acquiring an additional 475 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its position in Knight-Swift Transportation by 87.2% in the 2nd quarter. Eagle Bay Advisors LLC now owns 979 shares of the transportation company's stock valued at $45,000 after acquiring an additional 456 shares in the last quarter. 89.64% of the stock is owned by institutional investors.

Insider Activity

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 completion of the sale, the executive vice president now directly owns 19,944 shares in the company, valued at $1,100,509.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.10% of the stock is owned by company insiders.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Monday, September 5th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. Knight-Swift Transportation's payout ratio is currently 9.01%.

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.