Zacks: Analysts Expect Kirby Co. (NYSE:KEX) to Announce $0.81 Earnings Per Share

Equities research analysts forecast that Kirby Co. (NYSE:KEX) will announce $0.81 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Kirby’s earnings, with the highest EPS estimate coming in at $0.87 and the lowest estimate coming in at $0.75. Kirby posted earnings of $0.78 per share in the same quarter last year, which would indicate a positive year over year growth rate of 3.8%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, July 25th.

According to Zacks, analysts expect that Kirby will report full-year earnings of $3.48 per share for the current financial year, with EPS estimates ranging from $3.35 to $3.61. For the next year, analysts anticipate that the company will post earnings of $4.44 per share, with EPS estimates ranging from $3.70 to $5.11. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Kirby.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, May 2nd. The shipping company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $744.60 million for the quarter, compared to analyst estimates of $737.78 million. Kirby had a return on equity of 5.50% and a net margin of 3.04%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 earnings per share.

Several equities analysts have commented on the stock. TheStreet upgraded shares of Kirby from a “c+” rating to a “b” rating in a research note on Thursday, May 2nd. Bank of America upgraded shares of Kirby from an “underperform” rating to a “buy” rating in a research note on Friday, May 3rd. Zacks Investment Research downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Wells Fargo & Co boosted their price target on shares of Kirby from $74.00 to $80.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Kirby presently has an average rating of “Buy” and a consensus target price of $81.13.

Shares of NYSE:KEX traded down $0.90 during trading on Tuesday, hitting $75.04. The company’s stock had a trading volume of 14,651 shares, compared to its average volume of 449,501. The firm’s 50 day simple moving average is $79.85. The stock has a market cap of $4.64 billion, a P/E ratio of 26.30, a PEG ratio of 2.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.92 and a quick ratio of 1.08. Kirby has a fifty-two week low of $60.63 and a fifty-two week high of $88.80.

In related news, Director Monte J. Miller sold 4,937 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $84.91, for a total transaction of $419,200.67. Following the completion of the transaction, the director now owns 19,126 shares in the company, valued at $1,623,988.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William M. Waterman sold 20,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $82.35, for a total transaction of $1,647,000.00. Following the transaction, the director now owns 91,260 shares of the company’s stock, valued at approximately $7,515,261. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,508 shares of company stock valued at $2,368,898. Insiders own 1.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in shares of Kirby by 0.3% during the first quarter. Baillie Gifford & Co. now owns 7,712,253 shares of the shipping company’s stock worth $579,267,000 after purchasing an additional 23,660 shares in the last quarter. BlackRock Inc. grew its stake in shares of Kirby by 0.4% during the first quarter. BlackRock Inc. now owns 5,128,522 shares of the shipping company’s stock worth $385,202,000 after purchasing an additional 19,878 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Kirby by 2.3% during the third quarter. Vanguard Group Inc now owns 4,718,116 shares of the shipping company’s stock worth $388,066,000 after purchasing an additional 107,010 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Kirby by 5.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,522,073 shares of the shipping company’s stock worth $189,433,000 after purchasing an additional 138,081 shares in the last quarter. Finally, King Luther Capital Management Corp grew its stake in shares of Kirby by 2.6% during the first quarter. King Luther Capital Management Corp now owns 2,025,992 shares of the shipping company’s stock worth $152,172,000 after purchasing an additional 51,030 shares in the last quarter. Hedge funds and other institutional investors own 95.72% of the company’s stock.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its 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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Earnings History and Estimates for Kirby (NYSE:KEX)

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