Zacks: Analysts Expect Kirby Corporation (KEX) Will Post Quarterly Sales of $519.30 Million
Equities research analysts predict that Kirby Corporation (NYSE:KEX) will announce $519.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kirby Corporation’s earnings. The highest sales estimate is $533.40 million and the lowest is $505.20 million. Kirby Corporation reported sales of $434.71 million during the same quarter last year, which would suggest a positive year over year growth rate of 19.5%. The firm is scheduled to report its next earnings results after the market closes on Wednesday, November 1st.
On average, analysts expect that Kirby Corporation will report full year sales of $519.30 million for the current fiscal year, with estimates ranging from $2.05 billion to $2.23 billion. For the next year, analysts anticipate that the firm will post sales of $2.74 billion per share, with estimates ranging from $2.32 billion to $3.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Kirby Corporation.
Kirby Corporation (NYSE:KEX) last posted its quarterly earnings data on Wednesday, July 26th. The shipping company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The company had revenue of $473.33 million during the quarter, compared to analysts’ expectations of $478.85 million. During the same period in the prior year, the business earned $0.72 earnings per share. Kirby Corporation’s revenue for the quarter was up 7.2% compared to the same quarter last year.
A number of research analysts recently weighed in on KEX shares. Jefferies Group LLC reissued a “buy” rating and set a $85.00 target price on shares of Kirby Corporation in a report on Monday, October 16th. Zacks Investment Research lowered Kirby Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. Cowen and Company restated a “hold” rating and issued a $70.00 price target on shares of Kirby Corporation in a research note on Friday, July 28th. Stifel Nicolaus restated a “hold” rating and issued a $69.00 price target on shares of Kirby Corporation in a research note on Friday, July 28th. Finally, BidaskClub downgraded Kirby Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.71.
Several large investors have recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. lifted its position in shares of Kirby Corporation by 40.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,491,202 shares of the shipping company’s stock valued at $164,295,000 after acquiring an additional 713,836 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of Kirby Corporation by 1.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 137,907 shares of the shipping company’s stock valued at $9,095,000 after acquiring an additional 2,066 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Kirby Corporation by 65.9% during the 2nd quarter. Lord Abbett & CO. LLC now owns 788,653 shares of the shipping company’s stock valued at $52,721,000 after acquiring an additional 313,184 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Kirby Corporation by 5.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 77,268 shares of the shipping company’s stock valued at $5,165,000 after acquiring an additional 3,958 shares during the period. Finally, Koch Industries Inc. bought a new stake in shares of Kirby Corporation during the 2nd quarter valued at $216,000.
Shares of Kirby Corporation (KEX) opened at 66.25 on Monday. The stock has a 50 day moving average price of $64.79 and a 200 day moving average price of $65.70. Kirby Corporation has a 52-week low of $55.11 and a 52-week high of $74.50. The company has a market capitalization of $3.58 billion, a PE ratio of 30.36 and a beta of 1.01.
Kirby Corporation Company Profile
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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