Kirby Co. (NYSE:KEX) Expected to Announce Earnings of $0.49 Per Share

Equities research analysts predict that Kirby Co. (NYSE:KEXGet Rating) will announce $0.49 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Kirby’s earnings. The lowest EPS estimate is $0.46 and the highest is $0.51. Kirby reported earnings of $0.17 per share in the same quarter last year, which suggests a positive year over year growth rate of 188.2%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Kirby will report full-year earnings of $2.14 per share for the current year, with EPS estimates ranging from $1.90 to $2.31. For the next fiscal year, analysts anticipate that the business will post earnings of $3.50 per share, with EPS estimates ranging from $3.00 to $3.80. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Kirby.

Kirby (NYSE:KEXGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The shipping company reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Kirby had a positive return on equity of 1.85% and a negative net margin of 9.58%. The firm had revenue of $610.78 million during the quarter, compared to analyst estimates of $586.68 million. During the same quarter in the previous year, the business earned ($0.06) EPS. Kirby’s revenue for the quarter was up 22.9% compared to the same quarter last year.

Several brokerages recently weighed in on KEX. BTIG Research upgraded Kirby from a “neutral” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Friday, January 28th. StockNews.com started coverage on Kirby in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Stifel Nicolaus boosted their price objective on Kirby from $71.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $69.25.

In related news, VP Ronald A. Dragg sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $71.08, for a total value of $35,540.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott P. Miller sold 607 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $67.08, for a total value of $40,717.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,857 shares of company stock worth $562,955. Insiders own 1.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC acquired a new position in Kirby in the first quarter valued at approximately $259,000. Neuberger Berman Group LLC lifted its holdings in Kirby by 18,106.0% in the first quarter. Neuberger Berman Group LLC now owns 1,149,345 shares of the shipping company’s stock valued at $82,971,000 after acquiring an additional 1,143,032 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Kirby by 22.1% in the first quarter. BNP Paribas Arbitrage SA now owns 7,942 shares of the shipping company’s stock valued at $573,000 after acquiring an additional 1,436 shares during the last quarter. Jane Street Group LLC lifted its holdings in Kirby by 4.0% in the first quarter. Jane Street Group LLC now owns 9,181 shares of the shipping company’s stock valued at $663,000 after acquiring an additional 349 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Kirby in the first quarter valued at approximately $461,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Shares of Kirby stock opened at $68.37 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.98 and a debt-to-equity ratio of 0.40. Kirby has a twelve month low of $47.58 and a twelve month high of $75.08. The business has a 50-day moving average price of $66.85 and a 200 day moving average price of $63.86. The firm has a market cap of $4.12 billion, a PE ratio of -18.14, a P/E/G ratio of 2.46 and a beta of 1.37.

Kirby Company Profile (Get Rating)

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge 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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