Equities research analysts predict that Kirby Co. (NYSE:KEX) will post sales of $705.40 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Kirby’s earnings. The lowest sales estimate is $693.70 million and the highest is $725.40 million. Kirby posted sales of $491.71 million during the same quarter last year, which would indicate a positive year over year growth rate of 43.5%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, April 25th.
On average, analysts expect that Kirby will report full year sales of $2.98 billion for the current fiscal year, with estimates ranging from $2.87 billion to $3.09 billion. For the next year, analysts forecast that the business will report sales of $3.21 billion per share, with estimates ranging from $3.04 billion to $3.42 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Kirby.
Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, January 31st. The shipping company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Kirby had a return on equity of 4.17% and a net margin of 14.14%. The firm had revenue of $708.10 million for the quarter, compared to the consensus estimate of $612.61 million. During the same quarter in the prior year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 62.5% compared to the same quarter last year.
Several analysts have commented on the stock. Stifel Nicolaus set a $88.00 target price on shares of Kirby and gave the company a “buy” rating in a research report on Thursday, April 5th. ValuEngine upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 3rd. OTR Global upgraded shares of Kirby to a “positive” rating in a research report on Thursday, March 29th. Zacks Investment Research cut shares of Kirby from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Finally, Stephens set a $89.00 target price on shares of Kirby and gave the company a “hold” rating in a research report on Monday, February 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $81.67.
In related news, VP David R. Mosley sold 5,694 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $73.37, for a total value of $417,768.78. Following the completion of the sale, the vice president now owns 17,692 shares in the company, valued at approximately $1,298,062.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Dorman Lynn Strahan sold 1,665 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $74.56, for a total transaction of $124,142.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,430 shares of company stock valued at $854,762. 2.40% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Kirby by 79.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock valued at $127,000 after buying an additional 857 shares in the last quarter. American International Group Inc. increased its position in shares of Kirby by 1.1% in the 4th quarter. American International Group Inc. now owns 111,157 shares of the shipping company’s stock valued at $7,425,000 after buying an additional 1,200 shares in the last quarter. Thomson Horstmann & Bryant Inc. increased its position in shares of Kirby by 11.2% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 15,602 shares of the shipping company’s stock valued at $1,042,000 after buying an additional 1,569 shares in the last quarter. CWA Asset Management Group LLC increased its position in shares of Kirby by 6.3% in the 4th quarter. CWA Asset Management Group LLC now owns 33,340 shares of the shipping company’s stock valued at $2,227,000 after buying an additional 1,984 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Kirby by 4,295.2% in the 4th quarter. Advisory Services Network LLC now owns 2,725 shares of the shipping company’s stock valued at $182,000 after buying an additional 2,663 shares in the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.
Shares of Kirby stock traded down $0.65 on Monday, hitting $85.45. 377,060 shares of the company’s stock traded hands, compared to its average volume of 525,386. The stock has a market capitalization of $5,137.93, a price-to-earnings ratio of 41.68, a PEG ratio of 2.45 and a beta of 0.94. Kirby has a one year low of $59.25 and a one year high of $88.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.34 and a current ratio of 1.99.
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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