Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Plans Quarterly Dividend of $0.16

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Shareholders of record on Friday, September 6th will be paid a dividend of 0.16 per share by the transportation company on Monday, September 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, September 6th.

Knight-Swift Transportation has increased its dividend payment by an average of 20.5% per year over the last three years. Knight-Swift Transportation has a dividend payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Knight-Swift Transportation to earn $2.69 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 23.8%.

Knight-Swift Transportation Trading Down 1.5 %

KNX stock traded down $0.79 during mid-day trading on Friday, reaching $51.75. The company’s stock had a trading volume of 137,356 shares, compared to its average volume of 2,142,498. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99. The business’s 50 day moving average price is $49.68 and its 200 day moving average price is $51.95. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 78.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities research analysts predict that Knight-Swift Transportation will post 1.13 EPS for the current year.

Insider Activity

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the sale, the chairman now owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total transaction of $304,679.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The disclosure for this sale can be found here. Insiders have sold a total of 80,696 shares of company stock valued at $4,133,429 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

KNX has been the topic of several research reports. Stephens lowered their price target on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Raymond James reduced their price objective on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Loop Capital cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their price objective for the company from $63.00 to $53.00 in a research note on Thursday, April 18th. Robert W. Baird reduced their price objective on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Barclays cut their price target on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.79.

Knight-Swift Transportation Company Profile

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 transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.