Q3 2016 Earnings Estimate for Knight Transportation Inc. Issued By KeyCorp (KNX)
Knight Transportation Inc. (NYSE:KNX) – Stock analysts at KeyCorp reduced their Q3 2016 earnings per share (EPS) estimates for Knight Transportation in a report issued on Thursday. KeyCorp analyst T. Fowler now anticipates that the brokerage will post earnings of $0.28 per share for the quarter, down from their prior forecast of $0.29. KeyCorp also issued estimates for Knight Transportation’s Q4 2016 earnings at $0.29 EPS, FY2016 earnings at $1.15 EPS and FY2017 earnings at $1.25 EPS.
Knight Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. Knight Transportation had a net margin of 9.37% and a return on equity of 14.55%. The business had revenue of $276.30 million for the quarter, compared to the consensus estimate of $283.13 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis.
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Knight Transportation from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Citigroup Inc. increased their price target on shares of Knight Transportation from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, September 16th. Barclays PLC increased their price target on shares of Knight Transportation from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, September 12th. Deutsche Bank AG increased their price target on shares of Knight Transportation from $27.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Finally, Macquarie downgraded shares of Knight Transportation from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $27.00 in a report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $27.06.
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Knight Transportation (NYSE:KNX) opened at 28.37 on Monday. The stock has a market cap of $2.27 billion, a P/E ratio of 21.64 and a beta of 0.83. The firm’s 50-day moving average is $28.61 and its 200 day moving average is $27.30. Knight Transportation has a one year low of $20.56 and a one year high of $30.38.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.24 annualized dividend and a dividend yield of 0.85%. Knight Transportation’s dividend payout ratio is presently 18.18%.
In other news, Vice Chairman Gary J. Knight sold 99,339 shares of Knight Transportation stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $28.09, for a total transaction of $2,790,432.51. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kevin P. Knight sold 500,000 shares of Knight Transportation stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $29.44, for a total value of $14,720,000.00. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. RS Investment Management Co. LLC raised its position in Knight Transportation by 0.3% in the second quarter. RS Investment Management Co. LLC now owns 716,745 shares of the company’s stock valued at $19,051,000 after buying an additional 2,175 shares in the last quarter. BlackRock Group LTD raised its position in Knight Transportation by 6.8% in the first quarter. BlackRock Group LTD now owns 81,215 shares of the company’s stock valued at $2,123,000 after buying an additional 5,154 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Knight Transportation by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,464,582 shares of the company’s stock valued at $38,299,000 after buying an additional 6,463 shares in the last quarter. Harvey Investment Co. LLC increased its stake in shares of Knight Transportation by 1.6% in the second quarter. Harvey Investment Co. LLC now owns 481,789 shares of the company’s stock worth $12,806,000 after buying an additional 7,784 shares during the last quarter. Finally, Norris Perne & French LLP MI increased its stake in shares of Knight Transportation by 37.7% in the second quarter. Norris Perne & French LLP MI now owns 151,027 shares of the company’s stock worth $4,014,000 after buying an additional 41,361 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.
About Knight Transportation
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. The Company operates primarily in the United States with minor operations in Canada and Mexico.
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