Wall Street brokerages expect Kirby Co. (NYSE:KEX) to post $780.20 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Kirby’s earnings. The highest sales estimate is $797.00 million and the lowest is $756.20 million. Kirby posted sales of $541.27 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 44.1%. The firm is expected to report its next earnings results on Wednesday, November 7th.
On average, analysts expect that Kirby will report full year sales of $3.11 billion for the current financial year, with estimates ranging from $3.04 billion to $3.16 billion. For the next financial year, analysts anticipate that the business will post sales of $3.40 billion per share, with estimates ranging from $3.28 billion to $3.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Kirby.
Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, July 25th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.07. Kirby had a return on equity of 4.77% and a net margin of 11.49%. The company had revenue of $802.70 million for the quarter, compared to analysts’ expectations of $765.43 million. During the same period last year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was up 69.6% on a year-over-year basis.
KEX has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on Kirby from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, April 27th. Wells Fargo & Co lifted their price target on Kirby from $89.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, May 1st. Zacks Investment Research upgraded Kirby from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Wednesday, May 2nd. ValuEngine cut Kirby from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Gabelli upgraded Kirby from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $90.50.
Shares of KEX stock traded down $0.45 during mid-day trading on Thursday, hitting $84.35. 284,077 shares of the stock traded hands, compared to its average volume of 461,262. Kirby has a twelve month low of $59.38 and a twelve month high of $94.05. The stock has a market cap of $5.10 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.17 and a current ratio of 1.86.
In other news, insider Joseph H. Reniers sold 12,218 shares of the firm’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $91.83, for a total transaction of $1,121,978.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Ronald A. Dragg sold 500 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $85.00, for a total value of $42,500.00. Following the sale, the vice president now directly owns 10,968 shares of the company’s stock, valued at $932,280. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,865 shares of company stock valued at $2,260,359. Corporate insiders own 2.40% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KEX. Wells Fargo & Company MN boosted its position in shares of Kirby by 19.1% in the first quarter. Wells Fargo & Company MN now owns 235,189 shares of the shipping company’s stock worth $18,097,000 after buying an additional 37,770 shares during the period. Monarch Partners Asset Management LLC acquired a new stake in shares of Kirby in the first quarter worth $12,124,000. SG Americas Securities LLC boosted its position in shares of Kirby by 3.7% in the first quarter. SG Americas Securities LLC now owns 56,098 shares of the shipping company’s stock worth $4,317,000 after buying an additional 2,025 shares during the period. Mackay Shields LLC acquired a new stake in shares of Kirby in the first quarter worth $1,470,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Kirby in the first quarter worth $545,000. 92.84% of the stock is owned by institutional investors and hedge funds.
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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