Brokers Set Expectations for Kirby Co.’s FY2017 Earnings (KEX)

Kirby Co. (NYSE:KEX) – Analysts at Gabelli issued their FY2017 earnings per share estimates for Kirby in a report released on Tuesday, Zacks Investment Research reports. Gabelli analyst J. Bergner anticipates that the shipping company will post earnings of $1.91 per share for the year. Gabelli has a “Hold” rating and a $80.00 price objective on the stock. Gabelli also issued estimates for Kirby’s FY2018 earnings at $2.75 EPS, FY2019 earnings at $3.20 EPS, FY2020 earnings at $3.90 EPS and FY2021 earnings at $4.50 EPS.

KEX has been the topic of a number of other reports. Jefferies Group restated a “buy” rating and set a $85.00 price objective on shares of Kirby in a report on Monday, October 16th. Evercore ISI upgraded shares of Kirby from an “in-line” rating to an “outperform” rating and set a $86.00 price objective on the stock in a report on Thursday, February 1st. Stephens restated a “hold” rating and set a $70.00 price objective on shares of Kirby in a report on Wednesday, January 10th. Zacks Investment Research upgraded shares of Kirby from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, February 6th. Finally, Stifel Nicolaus restated a “hold” rating and set a $67.00 price objective on shares of Kirby in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Kirby has a consensus rating of “Hold” and an average price target of $79.40.

Shares of Kirby (KEX) traded down $0.45 during trading hours on Thursday, hitting $72.45. 581,001 shares of the company were exchanged, compared to its average volume of 545,835. Kirby has a fifty-two week low of $59.25 and a fifty-two week high of $80.90. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $4,325.05, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 2.07 and a beta of 1.03.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, January 31st. The shipping company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Kirby had a net margin of 14.14% and a return on equity of 4.37%. The business had revenue of $708.10 million for the quarter, compared to analyst estimates of $612.61 million. During the same period last year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was up 62.5% on a year-over-year basis.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Kirby by 1.3% in the 4th quarter. BlackRock Inc. now owns 4,763,004 shares of the shipping company’s stock valued at $318,169,000 after acquiring an additional 61,526 shares during the period. Atlanta Capital Management Co. L L C grew its position in shares of Kirby by 5.0% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 4,472,441 shares of the shipping company’s stock valued at $298,983,000 after acquiring an additional 213,303 shares during the period. Vanguard Group Inc. grew its position in shares of Kirby by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,356,474 shares of the shipping company’s stock valued at $291,231,000 after acquiring an additional 197,084 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Kirby by 40.2% in 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 acquiring an additional 713,836 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Kirby by 12.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock valued at $143,380,000 after acquiring an additional 246,064 shares during the period. 96.21% of the stock is owned by institutional investors.

In other Kirby news, insider Dorman Lynn Strahan sold 1,735 shares of Kirby stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $76.51, for a total value of $132,744.85. Following the sale, the insider now directly owns 28,484 shares in the company, valued at approximately $2,179,310.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Monte J. Miller sold 2,336 shares of Kirby stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $77.10, for a total transaction of $180,105.60. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

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About Kirby

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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