FY2019 Earnings Forecast for Kirby Co. (KEX) Issued By Gabelli

Kirby Co. (NYSE:KEX) – Equities research analysts at Gabelli raised their FY2019 earnings per share (EPS) estimates for Kirby in a report issued on Monday. Gabelli analyst J. Bergner now forecasts that the shipping company will earn $3.65 per share for the year, up from their previous forecast of $3.50. Gabelli has a “Hold” rating and a $80.00 price objective on the stock. Gabelli also issued estimates for Kirby’s FY2020 earnings at $4.45 EPS and FY2022 earnings at $5.60 EPS.

A number of other equities research analysts also recently weighed in on KEX. Jefferies Group reissued a “buy” rating and set a $85.00 target price on shares of Kirby in a research report on Monday, October 16th. Stifel Nicolaus reissued a “hold” rating and set a $67.00 target price on shares of Kirby in a research report on Friday, November 3rd. Zacks Investment Research downgraded Kirby from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Stephens reissued a “hold” rating and set a $70.00 target price on shares of Kirby in a research report on Wednesday, January 10th. Finally, Wells Fargo & Co raised Kirby from a “market perform” rating to an “outperform” rating and set a $83.00 target price on the stock in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $79.40.

Kirby (NYSE KEX) traded up $1.30 during mid-day trading on Tuesday, reaching $74.60. The company had a trading volume of 312,830 shares, compared to its average volume of 540,703. Kirby has a fifty-two week low of $59.25 and a fifty-two week high of $80.90. The firm has a market capitalization of $4,325.05, a P/E ratio of 13.88, a PEG ratio of 2.07 and a beta of 1.03. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, January 31st. The shipping company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Kirby had a return on equity of 4.37% and a net margin of 14.14%. The business had revenue of $708.10 million for the quarter, compared to the consensus estimate of $612.61 million. During the same period last year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 62.5% compared to the same quarter last year.

In other Kirby news, insider Dorman Lynn Strahan sold 1,735 shares of Kirby stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $76.51, for a total transaction of $132,744.85. Following the sale, the insider now directly owns 28,484 shares of the company’s stock, valued at $2,179,310.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Monte J. Miller sold 2,336 shares of Kirby stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $77.10, for a total value of $180,105.60. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its holdings in Kirby by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 16,161 shares of the shipping company’s stock valued at $1,080,000 after purchasing an additional 285 shares in the last quarter. Royal Bank of Canada boosted its holdings in Kirby by 4.1% during the second quarter. Royal Bank of Canada now owns 17,636 shares of the shipping company’s stock valued at $1,179,000 after purchasing an additional 689 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its holdings in Kirby by 5.9% during the third quarter. Turtle Creek Asset Management Inc. now owns 14,400 shares of the shipping company’s stock valued at $950,000 after purchasing an additional 800 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Kirby by 79.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 857 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Kirby by 0.3% during the third quarter. Principal Financial Group Inc. now owns 341,089 shares of the shipping company’s stock valued at $22,495,000 after purchasing an additional 1,154 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/13/fy2019-earnings-forecast-for-kirby-co-kex-issued-by-gabelli.html.

Kirby 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.

Earnings History and Estimates for Kirby (NYSE:KEX)

Receive News & Ratings for Kirby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirby and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply