Zacks: Brokerages Expect Kirby Co. (KEX) Will Post Earnings of $0.53 Per Share

Equities analysts predict that Kirby Co. (NYSE:KEX) will report $0.53 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Kirby’s earnings. The lowest EPS estimate is $0.51 and the highest is $0.54. Kirby posted earnings of $0.60 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 11.7%. The firm is expected to report its next earnings report after the market closes on Wednesday, January 31st.

According to Zacks, analysts expect that Kirby will report full-year earnings of $2.02 per share for the current year, with EPS estimates ranging from $1.91 to $2.05. For the next year, analysts forecast that the company will post earnings of $2.46 per share, with EPS estimates ranging from $2.20 to $2.75. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Kirby.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $541.30 million during the quarter, compared to analyst estimates of $517.54 million. Kirby had a net margin of 5.88% and a return on equity of 4.48%. Kirby’s revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS.

A number of research firms have issued reports on KEX. Gabelli began coverage on shares of Kirby in a research note on Tuesday. They set a “hold” rating and a $80.00 target price for the company. Stephens reissued a “hold” rating and set a $70.00 target price on shares of Kirby in a research note on Wednesday, January 10th. Zacks Investment Research lowered shares of Kirby from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Jefferies Group began coverage on shares of Kirby in a research note on Monday, December 18th. They set a “buy” rating and a $85.00 target price for the company. Finally, Stifel Nicolaus reissued a “hold” rating and set a $67.00 target price on shares of Kirby in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $75.29.

Several hedge funds have recently added to or reduced their stakes in the business. Atlanta Capital Management Co. L L C raised its position in shares of Kirby by 5.0% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 4,472,441 shares of the shipping company’s stock worth $298,983,000 after buying an additional 213,303 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Kirby by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,356,474 shares of the shipping company’s stock worth $291,231,000 after buying an additional 197,084 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Kirby by 40.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,491,202 shares of the shipping company’s stock worth $164,295,000 after buying an additional 713,836 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kirby by 12.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock worth $143,380,000 after buying an additional 246,064 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in shares of Kirby by 0.6% during the 3rd quarter. King Luther Capital Management Corp now owns 1,691,327 shares of the shipping company’s stock worth $111,543,000 after buying an additional 10,100 shares in the last quarter. Institutional investors own 96.59% of the company’s stock.

Kirby (NYSE:KEX) traded up $0.35 during trading on Friday, reaching $74.55. 208,238 shares of the company’s stock were exchanged, compared to its average volume of 485,731. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23. The firm has a market cap of $4,417.58, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 3.77 and a beta of 1.04. Kirby has a 52-week low of $59.25 and a 52-week high of $75.85.

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About Kirby

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 (NYSE:KEX)

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