Wall Street analysts expect Kirby Co. (NYSE:KEX) to report $698.90 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Kirby’s earnings, with the lowest sales estimate coming in at $693.70 million and the highest estimate coming in at $702.71 million. Kirby reported sales of $491.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 42.1%. The company is expected to announce its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Kirby will report full-year sales of $698.90 million for the current year, with estimates ranging from $2.87 billion to $3.09 billion. For the next fiscal year, analysts expect that the company will post sales of $3.21 billion per share, with estimates ranging from $3.04 billion to $3.42 billion. Zacks’ sales calculations are a mean average based on a survey of analysts 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 for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $708.10 million for the quarter, compared to the consensus estimate of $612.61 million. Kirby had a net margin of 14.14% and a return on equity of 4.17%. Kirby’s revenue for the quarter was up 62.5% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Kirby from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday, February 6th. Stephens set a $89.00 target price on shares of Kirby and gave the stock a “hold” rating in a report on Monday, February 5th. Evercore ISI upgraded shares of Kirby from an “in-line” rating to an “outperform” rating and set a $86.00 target price on the stock in a report on Thursday, February 1st. Bank of America raised their target price on shares of Kirby from $66.00 to $69.00 and gave the stock an “underperform” rating in a report on Thursday, February 1st. Finally, Gabelli initiated coverage on shares of Kirby in a report on Tuesday, January 16th. They set a “hold” rating and a $80.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $79.40.
In other news, Director Monte J. Miller sold 2,336 shares of Kirby stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $77.10, for a total value of $180,105.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David R. Mosley sold 5,694 shares of Kirby stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $73.37, for a total transaction of $417,768.78. Following the completion of the sale, the vice president now owns 17,692 shares in the company, valued at $1,298,062.04. The disclosure for this sale can be found here. Insiders sold 11,430 shares of company stock worth $854,762 over the last quarter. 2.40% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Kirby by 1.3% in the fourth quarter. BlackRock Inc. now owns 4,763,004 shares of the shipping company’s stock valued at $318,169,000 after buying an additional 61,526 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of Kirby by 10.9% in 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 buying an additional 262,965 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Kirby by 12.8% in 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 buying an additional 246,064 shares in the last quarter. King Luther Capital Management Corp grew its stake in shares of Kirby by 1.9% in the fourth quarter. King Luther Capital Management Corp now owns 1,724,182 shares of the shipping company’s stock valued at $115,175,000 after buying an additional 32,855 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Kirby by 3.6% in the fourth quarter. Teachers Advisors LLC now owns 1,085,730 shares of the shipping company’s stock valued at $72,527,000 after buying an additional 38,000 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
Shares of Kirby (NYSE:KEX) traded up $1.15 during trading hours on Tuesday, hitting $76.65. 274,889 shares of the company were exchanged, compared to its average volume of 474,613. The firm has a market cap of $4,544.17, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97. The company has a quick ratio of 1.34, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. Kirby has a 1-year low of $59.25 and a 1-year high of $80.90.
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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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