Brokerages expect Kirby Corporation (NYSE:KEX) to post $524.83 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Kirby Corporation’s earnings, with estimates ranging from $505.20 million to $535.90 million. Kirby Corporation reported sales of $434.71 million in the same quarter last year, which indicates a positive year over year growth rate of 20.7%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that Kirby Corporation will report full year sales of $524.83 million for the current financial year, with estimates ranging from $2.05 billion to $2.23 billion. For the next financial year, analysts anticipate that the business will report sales of $2.74 billion per share, with estimates ranging from $2.32 billion to $3.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Kirby Corporation.
Kirby Corporation (NYSE:KEX) last released its quarterly earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The firm had revenue of $473.33 million for the quarter, compared to the consensus estimate of $478.85 million. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS.
A number of analysts have recently weighed in on KEX shares. Zacks Investment Research upgraded shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. BidaskClub upgraded shares of Kirby Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus reiterated a “hold” rating and set a $69.00 target price on shares of Kirby Corporation in a research note on Friday, July 28th. Cowen and Company reiterated a “hold” rating and set a $70.00 target price on shares of Kirby Corporation in a research note on Friday, July 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $85.00 target price on shares of Kirby Corporation in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $71.71.
Shares of Kirby Corporation (KEX) traded up 0.89% on Monday, reaching $68.25. 303,661 shares of the company’s stock traded hands. Kirby Corporation has a 52 week low of $55.31 and a 52 week high of $74.50. The company’s 50-day moving average is $65.09 and its 200-day moving average is $65.59. The firm has a market capitalization of $3.69 billion, a P/E ratio of 31.28 and a beta of 1.01.
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A number of large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its stake in Kirby Corporation by 34.9% during the 3rd quarter. First Trust Advisors LP now owns 424,076 shares of the shipping company’s stock valued at $27,968,000 after purchasing an additional 109,735 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Kirby Corporation by 40.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,491,202 shares of the shipping company’s stock valued at $164,295,000 after purchasing an additional 713,836 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Kirby Corporation by 1.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 137,907 shares of the shipping company’s stock valued at $9,095,000 after purchasing an additional 2,066 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Kirby Corporation by 65.9% during the 2nd quarter. Lord Abbett & CO. LLC now owns 788,653 shares of the shipping company’s stock valued at $52,721,000 after purchasing an additional 313,184 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Kirby Corporation by 5.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 77,268 shares of the shipping company’s stock valued at $5,165,000 after buying an additional 3,958 shares in the last quarter.
Kirby Corporation 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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