Wall Street analysts expect that Kirby Corporation (NYSE:KEX) will announce earnings per share of $0.48 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Kirby Corporation’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.47. Kirby Corporation reported earnings of $0.59 per share during the same quarter last year, which indicates a negative year over year growth rate of 18.6%. The firm is expected to issue its next quarterly 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 fiscal year, with EPS estimates ranging from $2.00 to $2.06. For the next financial year, analysts forecast that the business will report earnings of $2.54 per share, with EPS estimates ranging from $2.20 to $2.95. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Kirby Corporation.

Kirby Corporation (NYSE:KEX) last announced its quarterly earnings results on Wednesday, July 26th. The shipping company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The company had revenue of $473.33 million during the quarter, compared to analyst estimates of $478.85 million. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share.

A number of research firms recently issued reports on KEX. BidaskClub cut Kirby Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Stifel Nicolaus reduced their price objective on Kirby Corporation from $71.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, June 15th. Zacks Investment Research cut Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and set a $85.00 price objective on shares of Kirby Corporation in a research report on Tuesday, May 30th. Finally, Cowen and Company reissued a “hold” rating and set a $70.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.25.

Shares of Kirby Corporation (KEX) opened at 64.35 on Thursday. The firm’s 50-day moving average price is $62.07 and its 200 day moving average price is $66.38. Kirby Corporation has a 52 week low of $55.00 and a 52 week high of $74.50. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 29.49 and a beta of 1.01.

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Large investors have recently made changes to their positions in the business. Credit Agricole S A acquired a new stake in shares of Kirby Corporation in the first quarter worth about $423,000. Morgan Stanley lifted its position in shares of Kirby Corporation by 22.9% in the first quarter. Morgan Stanley now owns 126,244 shares of the shipping company’s stock worth $8,906,000 after buying an additional 23,498 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Kirby Corporation by 33.6% in the first quarter. Bank of New York Mellon Corp now owns 1,275,763 shares of the shipping company’s stock worth $90,006,000 after buying an additional 320,566 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Kirby Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 4,159,390 shares of the shipping company’s stock worth $293,445,000 after buying an additional 208,693 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in shares of Kirby Corporation by 16.3% in the first quarter. UBS Asset Management Americas Inc. now owns 30,690 shares of the shipping company’s stock worth $2,165,000 after buying an additional 4,303 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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Earnings History and Estimates for Kirby Corporation (NYSE:KEX)

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