Wall Street brokerages forecast that Kirby Co. (NYSE:KEX) will report $0.12 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Kirby’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.17. Kirby reported earnings of $0.42 per share in the same quarter last year, which indicates a negative year over year growth rate of 71.4%. The firm is expected to report its next earnings results on Thursday, July 29th.
According to Zacks, analysts expect that Kirby will report full-year earnings of $1.10 per share for the current fiscal year, with EPS estimates ranging from $0.87 to $1.40. For the next financial year, analysts expect that the company will post earnings of $2.46 per share, with EPS estimates ranging from $2.09 to $2.80. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Kirby.
Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, April 29th. The shipping company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.17). The company had revenue of $496.85 million for the quarter, compared to analyst estimates of $474.03 million. Kirby had a negative net margin of 8.27% and a positive return on equity of 3.90%. The firm’s quarterly revenue was down 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS.
Separately, Jefferies Financial Group upped their price objective on shares of Kirby from $48.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, April 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $48.25.
NYSE:KEX traded down $0.31 during mid-day trading on Tuesday, hitting $65.63. The company’s stock had a trading volume of 490,352 shares, compared to its average volume of 427,498. Kirby has a fifty-two week low of $35.10 and a fifty-two week high of $70.00. The company has a current ratio of 2.36, a quick ratio of 1.64 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of -20.38, a P/E/G ratio of 4.27 and a beta of 1.42. The stock has a fifty day moving average of $62.83 and a 200-day moving average of $55.31.
In other Kirby news, VP Scott P. Miller sold 607 shares of the stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $66.02, for a total value of $40,074.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David W. Grzebinski sold 2,000 shares of the stock in a transaction on Tuesday, March 2nd. The stock was sold at an average price of $64.11, for a total transaction of $128,220.00. Following the completion of the sale, the chief executive officer now owns 66,836 shares in the company, valued at $4,284,855.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,581 shares of company stock worth $2,419,497. Company insiders own 1.70% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Eudaimonia Partners LLC bought a new position in Kirby in the fourth quarter valued at $26,000. Norman Fields Gottscho Capital Management LLC bought a new position in Kirby in the fourth quarter valued at $207,000. Crossmark Global Holdings Inc. bought a new position in Kirby in the fourth quarter valued at $208,000. Arizona State Retirement System bought a new position in Kirby in the fourth quarter valued at $226,000. Finally, Americana Partners LLC bought a new position in Kirby in the fourth quarter valued at $248,000. Institutional investors and hedge funds own 90.26% of the company’s stock.
Kirby Company Profile
Kirby Corporation operates domestic tank barges in the United States. Its 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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