Wall Street brokerages expect that Kirby Co. (NYSE:KEX) will report earnings per share (EPS) of $0.71 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Kirby’s earnings. The lowest EPS estimate is $0.65 and the highest is $0.76. Kirby reported earnings per share of $0.70 in the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The company is expected to announce its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Kirby will report full-year earnings of $2.97 per share for the current financial year, with EPS estimates ranging from $2.90 to $3.02. For the next fiscal year, analysts expect that the business will post earnings of $3.87 per share, with EPS estimates ranging from $3.45 to $4.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Kirby.
Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, July 25th. The shipping company reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.02). Kirby had a net margin of 3.70% and a return on equity of 5.47%. The company had revenue of $771.00 million during the quarter, compared to the consensus estimate of $767.04 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year.
In other news, VP Ronald A. Dragg sold 690 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $82.79, for a total transaction of $57,125.10. Following the transaction, the vice president now directly owns 11,076 shares of the company’s stock, valued at $916,982.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Amy D. Husted sold 6,174 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $78.25, for a total value of $483,115.50. Following the transaction, the vice president now directly owns 20,545 shares in the company, valued at $1,607,646.25. The disclosure for this sale can be found here. Insiders have sold 26,508 shares of company stock worth $2,115,023 over the last three months. Insiders own 1.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of KEX. Impala Asset Management LLC purchased a new stake in Kirby in the second quarter worth $63,505,000. Nuveen Asset Management LLC purchased a new stake in shares of Kirby in the second quarter worth $58,163,000. Richmond Hill Investments LLC purchased a new stake in shares of Kirby in the second quarter worth $12,564,000. Invesco Ltd. grew its stake in shares of Kirby by 20.3% in the second quarter. Invesco Ltd. now owns 753,206 shares of the shipping company’s stock worth $59,504,000 after acquiring an additional 127,083 shares during the last quarter. Finally, Richmond Hill Investment Co. LP purchased a new stake in shares of Kirby in the second quarter worth $5,132,000. 94.98% of the stock is currently owned by institutional investors.
Shares of KEX traded up $0.73 during mid-day trading on Friday, hitting $82.89. 420,753 shares of the company’s stock traded hands, compared to its average volume of 350,623. The company has a quick ratio of 1.19, a current ratio of 2.00 and a debt-to-equity ratio of 0.52. Kirby has a 1 year low of $60.63 and a 1 year high of $86.44. The firm has a market capitalization of $4.92 billion, a P/E ratio of 28.98, a PEG ratio of 2.60 and a beta of 1.03. The business’s 50-day moving average price is $74.77 and its 200-day moving average price is $77.42.
Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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