Brokers Offer Predictions for Kirby Co.’s Q1 2018 Earnings (KEX)

Kirby Co. (NYSE:KEX) – Research analysts at Jefferies Group issued their Q1 2018 earnings estimates for Kirby in a research note issued on Thursday, according to Zacks Investment Research. Jefferies Group analyst R. Giveans forecasts that the shipping company will earn $0.67 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $85.00 target price on the stock. Jefferies Group also issued estimates for Kirby’s Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.72 EPS and Q4 2018 earnings at $0.78 EPS.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Kirby from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, February 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $67.00 target price on shares of Kirby in a research report on Friday, November 3rd. Gabelli initiated coverage on Kirby in a research report on Tuesday, January 16th. They set a “hold” rating and a $80.00 target price for the company. Stephens reaffirmed a “hold” rating and set a $70.00 target price on shares of Kirby in a research report on Wednesday, January 10th. Finally, Evercore ISI raised Kirby from an “in-line” rating to an “outperform” rating and set a $86.00 target price for the company in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $79.40.

Shares of Kirby (KEX) opened at $73.30 on Monday. The company has a market capitalization of $4,325.05, a price-to-earnings ratio of 35.34, a P/E/G ratio of 2.07 and a beta of 1.03. Kirby has a 12-month low of $59.25 and a 12-month high of $80.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23.

Kirby (NYSE:KEX) last released its quarterly earnings results on Wednesday, January 31st. The shipping company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $708.10 million during the quarter, compared to analyst estimates of $612.61 million. Kirby had a return on equity of 4.37% and a net margin of 14.14%. Kirby’s quarterly revenue was up 62.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS.

Several hedge funds have recently bought and sold shares of the company. Citigroup Inc. grew its stake in shares of Kirby by 0.6% during the 2nd quarter. Citigroup Inc. now owns 7,699 shares of the shipping company’s stock worth $515,000 after acquiring an additional 48 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Kirby by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 16,161 shares of the shipping company’s stock worth $1,080,000 after acquiring an additional 285 shares during the period. Royal Bank of Canada grew its stake in shares of Kirby by 4.1% during the 2nd quarter. Royal Bank of Canada now owns 17,636 shares of the shipping company’s stock worth $1,179,000 after acquiring an additional 689 shares during the period. Turtle Creek Asset Management Inc. grew its stake in shares of Kirby by 5.9% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 14,400 shares of the shipping company’s stock worth $950,000 after acquiring an additional 800 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Kirby by 79.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock worth $127,000 after acquiring an additional 857 shares during the period. Institutional investors own 96.05% of the company’s stock.

In other news, Director Monte J. Miller sold 2,336 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $77.10, for a total transaction of $180,105.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dorman Lynn Strahan sold 1,735 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $76.51, for a total value of $132,744.85. Following the transaction, the insider now owns 28,484 shares of the company’s stock, valued at approximately $2,179,310.84. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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About Kirby

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

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