Kirby Co. (NYSE:KEX) – Stock analysts at Gabelli increased their FY2021 earnings estimates for Kirby in a research report issued on Friday, May 18th. Gabelli analyst J. Bergner now forecasts that the shipping company will post earnings per share of $5.60 for the year, up from their previous forecast of $5.55. Gabelli also issued estimates for Kirby’s FY2022 earnings at $6.05 EPS.
Kirby (NYSE:KEX) last announced its quarterly earnings data on Wednesday, April 25th. The shipping company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. Kirby had a return on equity of 4.35% and a net margin of 12.91%. The company had revenue of $741.70 million for the quarter, compared to analyst estimates of $690.64 million. During the same quarter last year, the firm earned $0.51 EPS. Kirby’s revenue for the quarter was up 50.8% compared to the same quarter last year.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Kirby from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Wednesday, May 2nd. Stifel Nicolaus lifted their price objective on Kirby from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, April 27th. ValuEngine raised Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. Stephens set a $89.00 target price on Kirby and gave the company a “hold” rating in a research note on Monday, February 5th. Finally, Wells Fargo boosted their target price on Kirby from $89.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $85.44.
Kirby stock opened at $91.05 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The company has a market cap of $5.39 billion, a P/E ratio of 44.41, a P/E/G ratio of 2.23 and a beta of 0.93. Kirby has a one year low of $59.25 and a one year high of $91.45.
In other news, Director Richard J. Alario sold 17,153 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $85.99, for a total value of $1,474,986.47. Following the completion of the sale, the director now directly owns 22,627 shares in the company, valued at approximately $1,945,695.73. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Ronald A. Dragg sold 930 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $85.69, for a total value of $79,691.70. Following the completion of the sale, the vice president now owns 11,468 shares of the company’s stock, valued at $982,692.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 285,723 shares of company stock valued at $25,256,055. 2.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in KEX. Advisory Services Network LLC lifted its position in shares of Kirby by 4,295.2% during the 4th quarter. Advisory Services Network LLC now owns 2,725 shares of the shipping company’s stock worth $182,000 after buying an additional 2,663 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Kirby in the 1st quarter worth approximately $193,000. State of Alaska Department of Revenue purchased a new position in Kirby in the 4th quarter valued at approximately $207,000. Quantitative Systematic Strategies LLC purchased a new position in Kirby in the 1st quarter valued at approximately $222,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in Kirby in the 1st quarter valued at approximately $269,000. Institutional investors and hedge funds own 92.01% of the company’s stock.
Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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