Wall Street brokerages predict that Knight-Swift Transportation Holdings Inc. (NYSE:KNX) will report sales of $1.30 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Knight-Swift Transportation's earnings. The highest sales estimate is $1.32 billion and the lowest is $1.27 billion. Knight-Swift Transportation posted sales of $1.06 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.6%. The business is expected to report its next earnings report on Wednesday, July 21st.
According to Zacks, analysts expect that Knight-Swift Transportation will report full year sales of $5.53 billion for the current fiscal year, with estimates ranging from $5.20 billion to $5.66 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $6.07 billion, with estimates ranging from $5.46 billion to $6.37 billion. Zacks Investment Research's sales averages are an average based on a survey of research firms that cover Knight-Swift Transportation.
Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 21st. The transportation company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.88 by $0.10. The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.30 billion. Knight-Swift Transportation had a return on equity of 9.02% and a net margin of 9.94%. The business's revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share.
KNX has been the topic of several recent research reports. Stifel Europe initiated coverage on Knight-Swift Transportation in a report on Monday, June 21st. They issued a "buy" rating on the stock. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft raised their price target on Knight-Swift Transportation from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, July 8th. Vertical Research initiated coverage on Knight-Swift Transportation in a report on Friday, March 26th. They issued a "buy" rating and a $62.00 price target on the stock. Susquehanna reiterated a "neutral" rating and issued a $53.00 price target on shares of Knight-Swift Transportation in a report on Monday, April 19th. Finally, Citigroup raised their price target on Knight-Swift Transportation from $52.00 to $53.00 and gave the company a "neutral" rating in a report on Wednesday, July 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Knight-Swift Transportation currently has an average rating of "Hold" and an average price target of $53.18.
In other news, EVP James E. Jr. Updike sold 2,250 shares of the firm's stock in a transaction dated Wednesday, May 5th. The stock was sold at an average price of $48.85, for a total transaction of $109,912.50. Following the sale, the executive vice president now owns 15,270 shares of the company's stock, valued at $745,939.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company's stock.
A number of institutional investors have recently made changes to their positions in KNX. Alliancebernstein L.P. raised its position in Knight-Swift Transportation by 23.3% in the 1st quarter. Alliancebernstein L.P. now owns 9,595,520 shares of the transportation company's stock valued at $461,449,000 after buying an additional 1,811,810 shares during the last quarter. BlackRock Inc. raised its position in Knight-Swift Transportation by 10.2% in the 1st quarter. BlackRock Inc. now owns 13,524,368 shares of the transportation company's stock valued at $650,386,000 after buying an additional 1,248,505 shares during the last quarter. Norges Bank acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at approximately $52,036,000. Morgan Stanley raised its position in Knight-Swift Transportation by 40.2% in the 1st quarter. Morgan Stanley now owns 4,051,035 shares of the transportation company's stock valued at $194,813,000 after buying an additional 1,161,047 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Knight-Swift Transportation by 31.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,061,613 shares of the transportation company's stock valued at $195,324,000 after buying an additional 981,621 shares during the last quarter. 86.46% of the stock is currently owned by institutional investors and hedge funds.
Knight-Swift Transportation stock opened at $47.26 on Thursday. The firm has a 50-day moving average price of $47.43. The company has a market capitalization of $7.82 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 0.86 and a beta of 1.31. Knight-Swift Transportation has a 12-month low of $37.07 and a 12-month high of $51.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.
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 three segments: Trucking, Logistics, 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.
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