Kirby Corporation (NYSE:KEX) announced its quarterly earnings data on Wednesday. The shipping company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.08, Briefing.com reports. Kirby Corporation had a net margin of 5.88% and a return on equity of 4.68%. The firm had revenue of $541.30 million during the quarter, compared to analysts’ expectations of $517.54 million. During the same quarter last year, the business earned $0.59 earnings per share. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. Kirby Corporation updated its Q4 guidance to $0.40-0.55 EPS and its FY17 guidance to $1.90 to $2.05 EPS.
KEX has been the subject of several recent analyst reports. BidaskClub cut shares of Kirby Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Kirby Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Stifel Nicolaus restated a “hold” rating and set a $69.00 target price on shares of Kirby Corporation in a research report on Friday, July 28th. Cowen and Company restated a “hold” rating and set a $70.00 target price on shares of Kirby Corporation in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated a “buy” rating and set a $85.00 target price on shares of Kirby Corporation in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Kirby Corporation has a consensus rating of “Hold” and an average price target of $71.71.
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About Kirby Corporation
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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