Knight-Swift Transportation Holdings Inc (NYSE:KNX) – Seaport Global Securities cut their Q2 2019 earnings estimates for shares of Knight-Swift Transportation in a report released on Friday, March 29th, according to Zacks Investment Research. Seaport Global Securities analyst K. Sterling now expects that the transportation company will earn $0.62 per share for the quarter, down from their prior estimate of $0.63. Seaport Global Securities also issued estimates for Knight-Swift Transportation’s FY2019 earnings at $2.60 EPS, Q1 2020 earnings at $0.51 EPS, Q2 2020 earnings at $0.64 EPS, Q3 2020 earnings at $0.66 EPS and Q4 2020 earnings at $0.88 EPS.
Several other brokerages also recently commented on KNX. TheStreet raised Knight-Swift Transportation from a “c+” rating to a “b-” rating in a report on Wednesday, February 13th. ValuEngine upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Monday, January 21st. Finally, Wolfe Research cut shares of Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $45.17.
Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Tuesday, January 29th. The transportation company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.44 billion. Knight-Swift Transportation had a return on equity of 8.46% and a net margin of 7.85%. Knight-Swift Transportation’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Monday, March 4th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, March 1st. Knight-Swift Transportation’s payout ratio is 9.38%.
In other Knight-Swift Transportation news, insider Kevin P. Knight sold 145,960 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $33.29, for a total transaction of $4,859,008.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shannon Breen sold 750 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $34.09, for a total transaction of $25,567.50. The disclosure for this sale can be found here. Insiders have sold a total of 336,828 shares of company stock valued at $11,196,519 in the last quarter. Corporate insiders own 27.50% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Morgan Stanley raised its position in shares of Knight-Swift Transportation by 46.9% during the 3rd quarter. Morgan Stanley now owns 2,294,531 shares of the transportation company’s stock valued at $79,115,000 after acquiring an additional 732,762 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Knight-Swift Transportation by 19.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,099 shares of the transportation company’s stock valued at $100,547,000 after buying an additional 476,959 shares during the period. Macquarie Group Ltd. grew its holdings in shares of Knight-Swift Transportation by 2.1% in the 3rd quarter. Macquarie Group Ltd. now owns 1,093,027 shares of the transportation company’s stock valued at $37,693,000 after buying an additional 22,112 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of Knight-Swift Transportation in the 3rd quarter valued at $2,707,000. Finally, Redmond Asset Management LLC grew its holdings in shares of Knight-Swift Transportation by 222.5% in the 3rd quarter. Redmond Asset Management LLC now owns 197,725 shares of the transportation company’s stock valued at $6,818,000 after buying an additional 136,419 shares during the period. Institutional investors own 82.84% of the company’s stock.
Knight-Swift Transportation Company Profile
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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