Kirby Co. (NYSE:KEX) – Stock analysts at Seaport Global Securities cut their Q1 2018 earnings estimates for shares of Kirby in a report released on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst K. Sterling now forecasts that the shipping company will post earnings of $0.46 per share for the quarter, down from their previous forecast of $0.49. Seaport Global Securities also issued estimates for Kirby’s Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $2.20 EPS, Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.66 EPS and Q3 2019 earnings at $0.70 EPS.
Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The business had revenue of $541.30 million during the quarter, compared to analyst estimates of $517.54 million. Kirby had a net margin of 5.88% and a return on equity of 4.48%. Kirby’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share.
KEX has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Kirby from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Stifel Nicolaus reissued a “hold” rating and issued a $67.00 price target on shares of Kirby in a report on Friday, November 3rd. Jefferies Group assumed coverage on shares of Kirby in a report on Monday, December 18th. They issued a “buy” rating and a $85.00 price target for the company. Finally, Stephens reaffirmed a “hold” rating and issued a $70.00 price objective on shares of Kirby in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.50.
Shares of Kirby (KEX) opened at $74.80 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.93 and a debt-to-equity ratio of 0.36. The firm has a market cap of $4,420.56, a P/E ratio of 35.45, a P/E/G ratio of 3.86 and a beta of 1.04. Kirby has a fifty-two week low of $59.25 and a fifty-two week high of $75.10.
Hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. bought a new position in Kirby in the second quarter valued at approximately $344,000. Neuberger Berman Group LLC boosted its stake in Kirby by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 1,023,373 shares of the shipping company’s stock valued at $68,412,000 after acquiring an additional 6,643 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in Kirby in the second quarter valued at approximately $1,083,000. Northern Trust Corp boosted its stake in Kirby by 4.8% in the second quarter. Northern Trust Corp now owns 500,297 shares of the shipping company’s stock valued at $33,444,000 after acquiring an additional 22,956 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in Kirby in the second quarter valued at approximately $216,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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