Analysts Expect Knight Transportation (KNX) to Post $0.25 Earnings Per Share

Wall Street analysts expect that Knight Transportation (NYSE:KNX) will report earnings of $0.25 per share for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Knight Transportation’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.24. Knight Transportation reported earnings per share of $0.31 in the same quarter last year, which suggests a negative year-over-year growth rate of 19.4%. The company is expected to report its next earnings report on Wednesday, July 26th.

According to Zacks, analysts expect that Knight Transportation will report full-year earnings of $1.00 per share for the current year, with EPS estimates ranging from $0.94 to $1.05. For the next financial year, analysts expect that the company will post earnings of $1.25 per share, with EPS estimates ranging from $1.07 to $1.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Knight Transportation.

Knight Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 26th. The transportation company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Knight Transportation had a net margin of 8.30% and a return on equity of 12.58%. The company had revenue of $271.18 million during the quarter, compared to the consensus estimate of $276.27 million. During the same quarter last year, the firm posted $0.28 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis.

Several research firms have recently issued reports on KNX. Deutsche Bank AG reaffirmed a “buy” rating and set a $39.00 price objective (down from $40.00) on shares of Knight Transportation in a research report on Friday, April 28th. Robert W. Baird raised Knight Transportation from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $35.00 to $36.00 in a research report on Monday, April 17th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $35.00 price objective (up from $32.00) on shares of Knight Transportation in a research report on Friday, April 14th. Vertical Research began coverage on Knight Transportation in a research report on Thursday, April 13th. They set a “buy” rating and a $48.00 price objective for the company. Finally, Vertical Group began coverage on Knight Transportation in a research report on Thursday, April 13th. They set a “buy” rating and a $48.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Knight Transportation has an average rating of “Hold” and an average price target of $34.79.

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In related news, insider Kevin P. Knight sold 17,575 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $34.34, for a total value of $603,525.50. Following the completion of the sale, the insider now directly owns 2,761,738 shares of the company’s stock, valued at approximately $94,838,082.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.60% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in KNX. State Street Corp boosted its stake in shares of Knight Transportation by 11.6% in the fourth quarter. State Street Corp now owns 1,673,420 shares of the transportation company’s stock worth $55,302,000 after buying an additional 174,137 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Knight Transportation by 7.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,590,884 shares of the transportation company’s stock worth $45,642,000 after buying an additional 103,947 shares during the period. Northern Trust Corp boosted its stake in shares of Knight Transportation by 1.1% in the third quarter. Northern Trust Corp now owns 1,124,852 shares of the transportation company’s stock worth $32,271,000 after buying an additional 11,749 shares during the period. Brown Advisory Inc. boosted its stake in shares of Knight Transportation by 7.5% in the fourth quarter. Brown Advisory Inc. now owns 1,053,640 shares of the transportation company’s stock worth $34,824,000 after buying an additional 73,738 shares during the period. Finally, Riverbridge Partners LLC purchased a new stake in shares of Knight Transportation during the first quarter worth about $30,001,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Knight Transportation (NYSE:KNX) traded down 1.286% on Wednesday, hitting $32.625. 67,456 shares of the stock were exchanged. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 30.778 and a beta of 0.74. The stock’s 50-day moving average is $32.62 and its 200-day moving average is $33.02. Knight Transportation has a 1-year low of $24.50 and a 1-year high of $38.80.

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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