Equities research analysts expect that Kirby Corporation (NYSE:KEX) will post sales of $555.20 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kirby Corporation’s earnings, with the highest sales estimate coming in at $596.50 million and the lowest estimate coming in at $513.90 million. Kirby Corporation posted sales of $434.71 million during the same quarter last year, which would indicate a positive year over year growth rate of 27.7%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, October 25th.

On average, analysts expect that Kirby Corporation will report full-year sales of $555.20 million for the current financial year, with estimates ranging from $2.08 billion to $2.29 billion. For the next financial year, analysts forecast that the business will post sales of $2.75 billion per share, with estimates ranging from $2.29 billion to $3.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow 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 4.85% 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.

A number of research analysts have recently weighed in on KEX shares. Credit Suisse Group raised shares of Kirby Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the company from $58.00 to $80.00 in a research report on Wednesday, April 19th. Zacks Investment Research raised shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub raised shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Jefferies Group LLC reissued a “buy” rating and set a $85.00 target price on shares of Kirby Corporation in a research report on Tuesday, May 30th. Finally, Stifel Nicolaus reduced their target price on shares of Kirby Corporation from $71.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Kirby Corporation presently has an average rating of “Hold” and a consensus price target of $69.22.

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Kirby Corporation (KEX) opened at 62.05 on Thursday. The company’s 50-day moving average price is $64.10 and its 200-day moving average price is $67.51. Kirby Corporation has a 12-month low of $50.80 and a 12-month high of $74.50. The company has a market cap of $3.35 billion, a PE ratio of 28.44 and a beta of 1.01.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capstone Asset Management Co. increased its position in Kirby Corporation by 2.6% in the first quarter. Capstone Asset Management Co. now owns 5,899 shares of the shipping company’s stock valued at $416,000 after buying an additional 150 shares during the period. Lathrop Investment Management Corp acquired a new position in Kirby Corporation during the first quarter valued at approximately $10,078,000. Louisiana State Employees Retirement System increased its position in Kirby Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the shipping company’s stock valued at $959,000 after buying an additional 300 shares during the period. Nationwide Fund Advisors increased its position in Kirby Corporation by 3.1% in the first quarter. Nationwide Fund Advisors now owns 99,142 shares of the shipping company’s stock valued at $6,994,000 after buying an additional 2,935 shares during the period. Finally, Glen Harbor Capital Management LLC increased its position in Kirby Corporation by 0.4% in the first quarter. Glen Harbor Capital Management LLC now owns 36,624 shares of the shipping company’s stock valued at $2,584,000 after buying an additional 140 shares during the period.

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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Earnings History and Estimates for Kirby Corporation (NYSE:KEX)

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