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Why Knight-Swift Transportation Stock Popped TodayKEY POINTS a. Profits fell sharply but still beat estimates. b. Knight-Swift seems likely to benefit from Convoy's bankruptcy. c. The company is making profits with its integration of U.S. Xpress. The diversified trucking company topped estimates and appears to be turning the corner in its U.S. Xpress acquisition. Shares of Knight-Swift Transportation (KNX 11.75%) were moving higher today after the diversified transportation company topped analyst estimates in its third-quarter earnings report. The competitive landscape is improving for Knight-Swift Knight-Swift, which offers full-truckload, less-than-truckload (LTL), logistics, and intermodal services, posted solid revenue growth in its third quarter with the top line up 6.5% to $2.02 billion, ahead of estimates at $1.89 billion, helped in part by its acquisition of U.S. Xpress. That growth was driven by its full truckload business, which saw revenue jump 22% to $1.17 billion, excluding its fuel surcharge. However, profitability in that key segment fell due to an "extremely difficult environment," including ongoing soft demand, and an increase in fuel prices. Adjusted operating ratio, which is the inverse of operating margin and excludes the U.S. Xpress acquisition, jumped from 81.8% a year ago to 94.9% but improved slightly from the second quarter. Profit margins also shrank in the logistics and intermodal segments, and overall adjusted earnings per share (EPS) fell from $1.27 to $0.41, ahead of the consensus at $0.36. Comments on the earnings call seemed to give the stock a boost. As CEO Dave Jackson said, "It feels like the extreme aggressiveness that we have seen out of non-asset-based players has reached a level to where it's not only unsustainable but when you add how expensive financing is ... it blows up." Those remarks seemed to refer in part to the closure this week of digital freight broker Convoy. Can Knight-Swift stock move higher? Knight-Swift revised its full-year adjusted EPS guidance from $2.10-$2.30 to $2.10-$2.20, and management forecast that truckload rates would stabilize at current levels and says it expects solid growth in LTL revenue and shipments. It also sees the bottom-line impact from the U.S. Xpress acquisition improving, a sign that the company will return to profit growth in 2024.
NYSE:KNXLong
by DEXWireNews
$KNX is on BUY point. Technical analysis: The shares of $KNX have dropped around 10% after earnings miss. As it is seen on the graph, $40.0 per share is acting as strong Support and the price can't break it down. Also, it is consolidating and moving sideways. Fundamental analysis: Knight-Swift Transporation (KNX) reported 4th Quarter December 2020 earnings of $0.94 per share on revenue of $1.3 billion. The consensus earnings estimate was $0.91 per share on revenue of $1.3 billion. The company said in its earnings presentation it expects 2021 earnings of $3.20 to $3.40 per share. The current consensus earnings estimate is $3.34 per share for the year ending December 31, 2021. As the company looking forward with positive date more and more investors will get in and buy the shares. So it has very nice BUY poin now. Knight Transportation, Inc., is a provider of multiple truckload transportation services. Its services include dry van truckload, temperature-controlled truckload, truckload services, drayage, intermodal, and truckload freight brokerage services.
NYSE:KNXLong
by Trading_with_Shakhboz
KNX- short from 28 to 25KNX falling down from its oscillating resistance, also looks like break of a small upward wedge. We can see divergence with money-flow, and money-flow going down sharply. We think it will decline from here. On the fundamental side Transportation sector is on the weak side & recent big Insider selling makes it perfect for short. Break of 28 will be a good short entry & our first target is 25 You can check our detailed analysis on PAG in the trading room/ Executive summery link here- www.screencast.com Time Span: 35" Trade Status:
NYSE:KNXShort
by AcornWealthCorp