Zacks: Brokerages Expect Knight Transportation, Inc. (NYSE:KNX) Will Post Quarterly Sales of $284.29 Million
Wall Street brokerages predict that Knight Transportation, Inc. (NYSE:KNX) will announce sales of $284.29 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Knight Transportation’s earnings, with estimates ranging from $276.00 million to $297.92 million. Knight Transportation posted sales of $280.53 million in the same quarter last year, which indicates a positive year over year growth rate of 1.3%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Knight Transportation will report full-year sales of $284.29 million for the current financial year, with estimates ranging from $1.11 billion to $1.15 billion. For the next fiscal year, analysts expect that the company will report sales of $1.22 billion per share, with estimates ranging from $1.18 billion to $1.29 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Knight Transportation.
Knight Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. The business had revenue of $273.20 million during the quarter, compared to the consensus estimate of $283.88 million. Knight Transportation had a return on equity of 10.39% and a net margin of 7.03%. Knight Transportation’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share.
Several research analysts have commented on the company. UBS AG upgraded Knight Transportation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $35.00 to $43.00 in a research note on Monday, April 24th. BidaskClub upgraded Knight Transportation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Knight Transportation from a “sell” rating to a “hold” rating and set a $41.00 target price for the company in a research note on Wednesday, July 5th. Deutsche Bank AG set a $45.00 target price on Knight Transportation and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Stephens upgraded Knight Transportation from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $36.00 to $42.00 in a research note on Monday, June 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $38.13.
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In other Knight Transportation news, COO Kevin Quast sold 3,469 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $31.71, for a total value of $110,001.99. Following the sale, the chief operating officer now owns 63,497 shares of the company’s stock, valued at approximately $2,013,489.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director G D. Madden sold 1,875 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.52, for a total value of $68,475.00. Following the completion of the sale, the director now directly owns 56,011 shares in the company, valued at approximately $2,045,521.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,644 shares of company stock worth $678,577. Insiders own 9.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in KNX. Teachers Advisors LLC boosted its stake in Knight Transportation by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 110,134 shares of the transportation company’s stock valued at $3,640,000 after buying an additional 2,118 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Knight Transportation by 91.5% in the first quarter. Bank of Montreal Can now owns 8,858 shares of the transportation company’s stock worth $277,000 after buying an additional 4,233 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Knight Transportation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 27,200 shares of the transportation company’s stock worth $853,000 after buying an additional 500 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Knight Transportation during the first quarter worth $207,000. Finally, Huntington National Bank boosted its position in shares of Knight Transportation by 17.4% in the first quarter. Huntington National Bank now owns 3,976 shares of the transportation company’s stock worth $125,000 after buying an additional 590 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Knight Transportation (NYSE:KNX) opened at 38.20 on Tuesday. The company has a 50-day moving average price of $36.33 and a 200-day moving average price of $33.96. The firm has a market cap of $3.08 billion, a P/E ratio of 39.38 and a beta of 0.86. Knight Transportation has a 1-year low of $26.85 and a 1-year high of $38.80.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $0.06 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.63%. Knight Transportation’s payout ratio is currently 25.00%.
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. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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