Zacks: Analysts Anticipate Kirby Co. (KEX) to Post $0.71 EPS

Brokerages forecast that Kirby Co. (NYSE:KEX) will post earnings of $0.71 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Kirby’s earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $0.73. Kirby posted earnings of $0.48 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 47.9%. The firm is scheduled to report its next earnings report on Wednesday, July 25th.

According to Zacks, analysts expect that Kirby will report full year earnings of $2.95 per share for the current year, with EPS estimates ranging from $2.75 to $3.09. For the next year, analysts forecast that the firm will report earnings of $3.67 per share, with EPS estimates ranging from $2.97 to $3.99. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Kirby.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, April 25th. The shipping company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.08. Kirby had a return on equity of 4.35% and a net margin of 12.91%. The firm had revenue of $741.70 million during the quarter, compared to analysts’ expectations of $690.64 million. During the same quarter in the previous year, the business earned $0.51 earnings per share. The firm’s revenue was up 50.8% compared to the same quarter last year.



A number of equities research analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Kirby from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, April 27th. Zacks Investment Research upgraded Kirby from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Wednesday, May 2nd. Wells Fargo boosted their price objective on Kirby from $89.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 1st. ValuEngine upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. Finally, Stephens set a $89.00 price objective on Kirby and gave the company a “hold” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $85.44.

In other news, Director William M. Waterman sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $90.52, for a total transaction of $2,263,000.00. Following the completion of the sale, the director now owns 87,832 shares in the company, valued at $7,950,552.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Alario sold 17,153 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $85.99, for a total value of $1,474,986.47. Following the sale, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,945,695.73. The disclosure for this sale can be found here. Insiders have sold 285,723 shares of company stock valued at $25,256,055 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Kirby by 1.5% during the first quarter. BlackRock Inc. now owns 4,833,388 shares of the shipping company’s stock worth $371,931,000 after purchasing an additional 70,384 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in Kirby by 10.9% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,680,707 shares of the shipping company’s stock worth $179,071,000 after acquiring an additional 262,965 shares during the period. King Luther Capital Management Corp grew its holdings in Kirby by 12.6% during the first quarter. King Luther Capital Management Corp now owns 1,941,548 shares of the shipping company’s stock worth $149,402,000 after acquiring an additional 217,366 shares during the period. Teachers Advisors LLC grew its holdings in Kirby by 3.6% during the fourth quarter. Teachers Advisors LLC now owns 1,085,730 shares of the shipping company’s stock worth $72,527,000 after acquiring an additional 38,000 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Kirby by 6.8% during the first quarter. Thrivent Financial for Lutherans now owns 1,012,153 shares of the shipping company’s stock worth $77,885,000 after acquiring an additional 64,774 shares during the period. Institutional investors and hedge funds own 92.01% of the company’s stock.

Shares of Kirby opened at $91.05 on Friday, according to MarketBeat. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.29. Kirby has a twelve month low of $59.25 and a twelve month high of $91.45. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 2.23 and a beta of 0.93.

About Kirby

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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Earnings History and Estimates for Kirby (NYSE:KEX)

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