Analysts Anticipate Kirby Corporation (KEX) Will Post Earnings of $0.48 Per Share
Wall Street analysts predict that Kirby Corporation (NYSE:KEX) will post $0.48 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Kirby Corporation’s earnings. The lowest EPS estimate is $0.47 and the highest is $0.51. Kirby Corporation posted earnings per share of $0.59 in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.6%. The business is scheduled to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that Kirby Corporation will report full-year earnings of $2.02 per share for the current year, with EPS estimates ranging from $2.00 to $2.06. For the next financial year, analysts expect that the business will post earnings of $2.54 per share, with EPS estimates ranging from $2.20 to $2.95. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Kirby Corporation.
Kirby Corporation (NYSE:KEX) last announced its quarterly earnings data on Wednesday, July 26th. The shipping company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The company had revenue of $473.33 million during the quarter, compared to analysts’ expectations of $478.85 million. Kirby Corporation had a return on equity of 4.88% and a net margin of 6.41%. Kirby Corporation’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS.
KEX has been the topic of a number of analyst reports. Credit Suisse Group upgraded shares of Kirby Corporation from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $58.00 to $80.00 in a report on Wednesday, April 19th. Cowen and Company upped their target price on shares of Kirby Corporation from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, April 27th. Zacks Investment Research upgraded shares of Kirby Corporation from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and issued a $85.00 target price on shares of Kirby Corporation in a report on Tuesday, May 30th. Finally, BidaskClub upgraded shares of Kirby Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $69.22.
Shares of Kirby Corporation (KEX) traded up 0.08% during trading on Tuesday, hitting $62.30. The stock had a trading volume of 16,991 shares. Kirby Corporation has a 1-year low of $50.80 and a 1-year high of $74.50. The company has a market capitalization of $3.36 billion, a P/E ratio of 28.59 and a beta of 1.01. The firm has a 50-day moving average of $64.83 and a 200 day moving average of $67.72.
Large investors have recently modified their holdings of the company. Huntington National Bank increased its stake in shares of Kirby Corporation by 11.3% in the second quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock worth $164,000 after buying an additional 249 shares during the last quarter. World Asset Management Inc increased its stake in shares of Kirby Corporation by 0.9% in the first quarter. World Asset Management Inc now owns 3,300 shares of the shipping company’s stock worth $233,000 after buying an additional 28 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Kirby Corporation by 16.9% in the second quarter. LS Investment Advisors LLC now owns 4,291 shares of the shipping company’s stock worth $287,000 after buying an additional 620 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Kirby Corporation during the first quarter worth about $301,000. Finally, CIBC Asset Management Inc increased its stake in shares of Kirby Corporation by 1.7% in the second quarter. CIBC Asset Management Inc now owns 4,903 shares of the shipping company’s stock worth $328,000 after buying an additional 80 shares during the last quarter.
About Kirby Corporation
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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