Kirby Co. (NYSE:KEX) Expected to Announce Earnings of $0.42 Per Share

Analysts expect Kirby Co. (NYSE:KEX) to post earnings of $0.42 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Kirby’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.49. Kirby reported earnings of $0.79 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 46.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 23rd.

According to Zacks, analysts expect that Kirby will report full-year earnings of $2.22 per share for the current financial year, with EPS estimates ranging from $2.05 to $2.45. For the next financial year, analysts expect that the firm will post earnings of $2.84 per share, with EPS estimates ranging from $2.50 to $3.55. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Kirby.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Tuesday, May 5th. The shipping company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.15. Kirby had a positive return on equity of 5.00% and a negative net margin of 5.49%. The business had revenue of $643.90 million during the quarter, compared to analyst estimates of $627.88 million. During the same period last year, the company earned $0.74 earnings per share. Kirby’s quarterly revenue was down 13.5% compared to the same quarter last year.

Several brokerages recently issued reports on KEX. Stifel Nicolaus lowered Kirby from a “buy” rating to a “hold” rating and cut their price objective for the stock from $85.00 to $84.00 in a report on Friday, January 31st. Jefferies Financial Group downgraded shares of Kirby from a “buy” rating to a “hold” rating and lowered their target price for the stock from $95.00 to $85.00 in a research report on Thursday, January 30th. Benchmark began coverage on shares of Kirby in a research report on Thursday, April 16th. They set a “buy” rating and a $65.00 target price on the stock. Stephens lowered their target price on shares of Kirby from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Finally, Cfra lowered their target price on shares of Kirby from $85.00 to $82.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $80.00.

In other news, Director Monte J. Miller sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.43, for a total value of $416,580.00. Following the sale, the director now directly owns 20,189 shares of the company’s stock, valued at $1,401,722.27. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Kim B. Clarke purchased 1,000 shares of the stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $52.07 per share, for a total transaction of $52,070.00. Following the completion of the transaction, the vice president now owns 3,656 shares of the company’s stock, valued at approximately $190,367.92. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI bought a new stake in shares of Kirby in the fourth quarter valued at about $33,000. Synovus Financial Corp bought a new stake in shares of Kirby in the first quarter valued at about $38,000. Tower Research Capital LLC TRC bought a new stake in shares of Kirby in the first quarter valued at about $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kirby by 68.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,383 shares of the shipping company’s stock valued at $124,000 after buying an additional 560 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Kirby by 53.2% in the first quarter. US Bancorp DE now owns 2,927 shares of the shipping company’s stock valued at $128,000 after buying an additional 1,016 shares during the period. Institutional investors and hedge funds own 92.43% of the company’s stock.

Shares of NYSE:KEX traded down $1.69 during midday trading on Monday, hitting $49.33. 389,546 shares of the stock were exchanged, compared to its average volume of 568,419. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.07 and a current ratio of 2.76. Kirby has a 52-week low of $32.76 and a 52-week high of $92.30. The business’s fifty day simple moving average is $48.23 and its two-hundred day simple moving average is $68.44. The company has a market capitalization of $3.06 billion, a PE ratio of 18.49, a P/E/G ratio of 2.30 and a beta of 1.44.

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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