Kirby Corporation (NYSE:KEX) – Equities research analysts at Seaport Global Securities decreased their Q3 2017 earnings estimates for shares of Kirby Corporation in a research note issued on Thursday. Seaport Global Securities analyst K. Sterling now forecasts that the shipping company will post earnings of $0.43 per share for the quarter, down from their previous estimate of $0.48. Seaport Global Securities also issued estimates for Kirby Corporation’s Q4 2017 earnings at $0.52 EPS, FY2017 earnings at $1.95 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.73 EPS and FY2018 earnings at $2.50 EPS.

Other analysts also recently issued reports about the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Kirby Corporation in a report on Tuesday, May 30th. Zacks Investment Research cut shares of Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Cowen and Company restated a “hold” rating and set a $70.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. Stifel Nicolaus restated a “hold” rating and set a $69.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. Finally, BidaskClub upgraded shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $71.25.

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Shares of Kirby Corporation (NYSE KEX) opened at 63.85 on Friday. The stock has a market cap of $3.45 billion, a PE ratio of 29.26 and a beta of 1.01. The company has a 50-day moving average of $62.00 and a 200 day moving average of $66.35. Kirby Corporation has a one year low of $55.00 and a one year high of $74.50.

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

Several hedge funds and other institutional investors have recently bought and sold shares of KEX. Russell Investments Group Ltd. boosted its stake in shares of Kirby Corporation by 18.1% in the first quarter. Russell Investments Group Ltd. now owns 166,021 shares of the shipping company’s stock valued at $11,711,000 after purchasing an additional 25,503 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Kirby Corporation by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 27,765 shares of the shipping company’s stock valued at $1,958,000 after purchasing an additional 1,209 shares during the period. State Treasurer State of Michigan boosted its stake in shares of Kirby Corporation by 0.9% in the first quarter. State Treasurer State of Michigan now owns 21,900 shares of the shipping company’s stock valued at $1,545,000 after purchasing an additional 200 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Kirby Corporation by 22.6% in the first quarter. Advisors Asset Management Inc. now owns 5,932 shares of the shipping company’s stock valued at $419,000 after purchasing an additional 1,092 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake 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 valued at $90,006,000 after purchasing an additional 320,566 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.

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

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