Kirby Corporation (KEX) Expected to Announce Quarterly Sales of $555.20 Million
Analysts expect that Kirby Corporation (NYSE:KEX) will report sales of $555.20 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kirby Corporation’s earnings. The highest sales estimate is $596.50 million and the lowest is $513.90 million. Kirby Corporation posted sales of $434.71 million during the same quarter last year, which indicates a positive year over year growth rate of 27.7%. The company is scheduled to announce its next earnings results on Wednesday, October 25th.
On average, analysts expect that Kirby Corporation will report full year sales of $555.20 million for the current year, with estimates ranging from $2.06 billion to $2.29 billion. For the next year, analysts expect that the firm will post sales of $2.74 billion per share, with estimates ranging from $2.29 billion to $3.05 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Kirby Corporation.
Kirby Corporation (NYSE:KEX) last posted its earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The business 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS.
Several research analysts have recently commented on KEX shares. Zacks Investment Research raised Kirby Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. BidaskClub raised Kirby Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Cowen and Company reaffirmed a “hold” rating and issued a $70.00 price objective on shares of Kirby Corporation in a research note on Friday, July 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $69.00 price objective on shares of Kirby Corporation in a research note on Friday, July 28th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $85.00 target price on shares of Kirby Corporation in a research note on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $71.25.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Credit Agricole S A bought a new stake in Kirby Corporation during the 1st quarter valued at approximately $423,000. Morgan Stanley grew its holdings in Kirby Corporation by 22.9% during the 1st quarter. Morgan Stanley now owns 126,244 shares of the shipping company’s stock valued at $8,906,000 after buying an additional 23,498 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Kirby Corporation by 33.6% during the 1st 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 buying an additional 320,566 shares in the last quarter. Vanguard Group Inc. grew its holdings in Kirby Corporation by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 4,159,390 shares of the shipping company’s stock valued at $293,445,000 after buying an additional 208,693 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in Kirby Corporation by 0.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,023,373 shares of the shipping company’s stock valued at $68,412,000 after buying an additional 6,643 shares in the last quarter.
Kirby Corporation (KEX) traded up 0.55% on Friday, reaching $64.15. The company’s stock had a trading volume of 282,138 shares. Kirby Corporation has a one year low of $55.11 and a one year high of $74.50. The stock has a 50-day moving average of $62.06 and a 200-day moving average of $66.31. The stock has a market cap of $3.46 billion, a P/E ratio of 29.40 and a beta of 1.01.
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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