Jefferies Group Weighs in on Kirby Co.’s FY2017 Earnings (KEX)

Kirby Co. (NYSE:KEX) – Equities researchers at Jefferies Group issued their FY2017 earnings estimates for shares of Kirby in a research note issued on Monday. Jefferies Group analyst R. Giveans expects that the shipping company will post earnings of $2.05 per share for the year. Jefferies Group has a “Buy” rating and a $85.00 price objective on the stock. Jefferies Group also issued estimates for Kirby’s Q4 2017 earnings at $0.54 EPS and FY2018 earnings at $2.40 EPS.

Other analysts have also issued reports about the stock. Stifel Nicolaus reiterated a “hold” rating and set a $67.00 price target on shares of Kirby in a research note on Friday, November 3rd. BidaskClub upgraded shares of Kirby from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $75.40.

Shares of Kirby (NYSE:KEX) opened at $68.40 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.23 and a current ratio of 1.93. The stock has a market cap of $3,990.74, a PE ratio of 31.68, a price-to-earnings-growth ratio of 4.16 and a beta of 1.04. Kirby has a one year low of $59.25 and a one year high of $74.50.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. Kirby had a net margin of 5.88% and a return on equity of 4.48%. The company had revenue of $541.30 million for the quarter, compared to analysts’ expectations of $517.54 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. Kirby’s revenue for the quarter was up 24.5% compared to the same quarter last year.

A number of large investors have recently modified their holdings of KEX. Diamond Hill Capital Management Inc. increased its stake in Kirby by 40.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,491,202 shares of the shipping company’s stock worth $164,295,000 after purchasing an additional 713,836 shares during the period. Lord Abbett & CO. LLC increased its stake in Kirby by 65.9% during the second quarter. Lord Abbett & CO. LLC now owns 788,653 shares of the shipping company’s stock worth $52,721,000 after purchasing an additional 313,184 shares during the period. Dimensional Fund Advisors LP increased its stake in Kirby by 12.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock worth $143,380,000 after purchasing an additional 246,064 shares during the period. Koch Industries Inc. purchased a new stake in Kirby during the second quarter worth about $216,000. Finally, Atlanta Capital Management Co. L L C increased its stake in Kirby by 5.0% during the second quarter. Atlanta Capital Management Co. L L C now owns 4,472,441 shares of the shipping company’s stock worth $298,983,000 after purchasing an additional 213,303 shares during the period. Institutional investors own 96.58% of the company’s stock.

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Kirby Company Profile

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.

Earnings History and Estimates for Kirby (NYSE:KEX)

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