Q1 2024 Earnings Forecast for Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Issued By Zacks Research

Knight-Swift Transportation Holdings Inc. (NYSE:KNXFree Report) – Equities researchers at Zacks Research reduced their Q1 2024 earnings per share estimates for shares of Knight-Swift Transportation in a note issued to investors on Wednesday, February 7th. Zacks Research analyst S. Goswami now anticipates that the transportation company will earn $0.40 per share for the quarter, down from their prior forecast of $0.50. The consensus estimate for Knight-Swift Transportation’s current full-year earnings is $2.52 per share. Zacks Research also issued estimates for Knight-Swift Transportation’s Q2 2024 earnings at $0.56 EPS, Q4 2024 earnings at $0.79 EPS, FY2024 earnings at $2.46 EPS, Q1 2025 earnings at $0.76 EPS and FY2026 earnings at $5.86 EPS.

KNX has been the topic of a number of other research reports. JPMorgan Chase & Co. raised Knight-Swift Transportation from an “underweight” rating to a “neutral” rating and upped their target price for the company from $54.00 to $57.00 in a research note on Friday, October 20th. Stifel Nicolaus lifted their target price on Knight-Swift Transportation from $54.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Susquehanna lifted their target price on Knight-Swift Transportation from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. TheStreet upgraded Knight-Swift Transportation from a “c+” rating to a “b-” rating in a report on Monday, December 4th. Finally, Morgan Stanley lifted their target price on Knight-Swift Transportation from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.00.

Get Our Latest Stock Analysis on Knight-Swift Transportation

Knight-Swift Transportation Stock Performance

KNX opened at $59.79 on Friday. Knight-Swift Transportation has a 1-year low of $45.73 and a 1-year high of $60.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $57.24 and its 200 day simple moving average is $54.41. The stock has a market cap of $9.65 billion, a P/E ratio of 44.95, a P/E/G ratio of 1.58 and a beta of 1.01.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Friday, March 8th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.07%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 48.12%.

Insider Transactions at Knight-Swift Transportation

In other news, EVP Timothy Sean Harrington sold 1,200 shares of Knight-Swift Transportation stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $52.00, for a total transaction of $62,400.00. Following the sale, the executive vice president now directly owns 5,278 shares of the company’s stock, valued at $274,456. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP James L. Fitzsimmons sold 2,664 shares of Knight-Swift Transportation stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $53.73, for a total transaction of $143,136.72. Following the sale, the executive vice president now directly owns 4,632 shares of the company’s stock, valued at $248,877.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Sean Harrington sold 1,200 shares of Knight-Swift Transportation stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $52.00, for a total value of $62,400.00. Following the sale, the executive vice president now directly owns 5,278 shares in the company, valued at $274,456. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds have recently bought and sold shares of KNX. Raymond James & Associates boosted its stake in Knight-Swift Transportation by 22.1% in the first quarter. Raymond James & Associates now owns 76,395 shares of the transportation company’s stock valued at $3,855,000 after acquiring an additional 13,808 shares during the period. US Bancorp DE boosted its stake in Knight-Swift Transportation by 57.6% in the first quarter. US Bancorp DE now owns 14,450 shares of the transportation company’s stock valued at $729,000 after acquiring an additional 5,283 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Knight-Swift Transportation by 23.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the transportation company’s stock worth $706,000 after buying an additional 2,677 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Knight-Swift Transportation by 3.8% during the first quarter. Great West Life Assurance Co. Can now owns 211,351 shares of the transportation company’s stock worth $11,126,000 after buying an additional 7,824 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Knight-Swift Transportation by 6.7% during the first quarter. Sei Investments Co. now owns 141,380 shares of the transportation company’s stock worth $7,135,000 after buying an additional 8,923 shares during the period. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

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Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportations services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

See Also

Earnings History and Estimates for Knight-Swift Transportation (NYSE:KNX)

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