Okaynight-Swift Transportation Holdings (KNX) got here out with quarterly earnings of $0.79 per sha
Okaynight-Swift Transportation Holdings (KNX) got here out with quarterly earnings of $0.79 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $0.48 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 25.40%. 1 / 4 in the past, it was anticipated that this trucking firm would publish earnings of $0.35 per share when it really produced earnings of $0.57, delivering a shock of 62.86%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Knight-Swift, which belongs to the Zacks Transportation – Truck trade, posted revenues of $1.21 billion for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 4.26%. This compares to year-ago revenues of $1.20 billion. The corporate has topped consensus income estimates two occasions over the past 4 quarters.
The sustainability of the inventory’s rapid worth motion primarily based on the recently-released numbers and future earnings expectations will largely rely upon administration’s commentary on the earnings name.
Knight-Swift shares have added about 10.5% for the reason that starting of the yr versus the S&P 500’s achieve of 6.6%.
What’s Subsequent for Knight-Swift?
Whereas Knight-Swift has outperformed the market to this point this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified these days.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a formidable monitor report of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Knight-Swift was favorable. Whereas the magnitude and path of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #1 (Robust Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You possibly can see the entire checklist of at this time’s Zacks #1 Rank (Robust Purchase) shares right here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.75 on $1.22 billion in revenues for the approaching quarter and $2.32 on $4.58 billion in revenues for the present fiscal yr.
Buyers ought to be conscious of the truth that the outlook for the trade can have a fabric affect on the efficiency of the inventory as nicely. When it comes to the Zacks Business Rank, Transportation – Truck is at present within the high 2% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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KnightSwift Transportation Holdings Inc. (KNX): Free Inventory Evaluation Report
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