Analysts forecast that Kirby Co. (NYSE:KEX) will report earnings per share of $0.63 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Kirby’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.69. Kirby posted earnings of $0.51 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 23.5%. The firm is scheduled to report its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Kirby will report full year earnings of $2.80 per share for the current fiscal year, with EPS estimates ranging from $2.63 to $3.00. For the next financial year, analysts expect that the business will report earnings of $3.48 per share, with EPS estimates ranging from $3.30 to $3.70. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Kirby.
Kirby (NYSE:KEX) last announced its quarterly earnings results on Wednesday, January 31st. The shipping company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $708.10 million for the quarter, compared to analyst estimates of $612.61 million. Kirby had a net margin of 14.14% and a return on equity of 4.17%. The company’s revenue was up 62.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS.
A number of equities research analysts have recently weighed in on the stock. Stephens set a $89.00 target price on shares of Kirby and gave the company a “hold” rating in a research note on Monday, February 5th. Zacks Investment Research raised shares of Kirby from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, February 6th. Evercore ISI raised shares of Kirby from an “in-line” rating to an “outperform” rating and set a $86.00 target price on the stock in a research note on Thursday, February 1st. Bank of America lifted their target price on shares of Kirby from $66.00 to $69.00 and gave the company an “underperform” rating in a research note on Thursday, February 1st. Finally, Wells Fargo raised shares of Kirby from a “market perform” rating to an “outperform” rating and set a $83.00 target price on the stock in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $79.40.
In other Kirby news, insider Dorman Lynn Strahan sold 1,665 shares of Kirby stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $74.56, for a total value of $124,142.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David R. Mosley sold 5,694 shares of Kirby stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $73.37, for a total transaction of $417,768.78. Following the completion of the transaction, the vice president now directly owns 17,692 shares of the company’s stock, valued at $1,298,062.04. The disclosure for this sale can be found here. Insiders have sold 11,430 shares of company stock worth $854,762 in the last three months. 2.40% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of KEX. Lodge Hill Capital LLC purchased a new position in Kirby in the fourth quarter worth about $20,708,000. Thrivent Financial For Lutherans raised its holdings in shares of Kirby by 40.4% during the fourth quarter. Thrivent Financial For Lutherans now owns 947,379 shares of the shipping company’s stock valued at $63,285,000 after purchasing an additional 272,436 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in shares of Kirby by 10.9% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,680,707 shares of the shipping company’s stock valued at $179,071,000 after purchasing an additional 262,965 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kirby by 12.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock valued at $143,380,000 after purchasing an additional 246,064 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Kirby by 42.6% during the third quarter. Schroder Investment Management Group now owns 673,103 shares of the shipping company’s stock valued at $45,199,000 after purchasing an additional 201,037 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
Shares of Kirby (KEX) traded up $1.00 on Friday, hitting $76.50. 471,500 shares of the stock were exchanged, compared to its average volume of 336,504. The company has a market cap of $4,565.06, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 2.18 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.34. Kirby has a 52-week low of $59.25 and a 52-week high of $80.90.
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Kirby Company Profile
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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