Zacks: Analysts Expect Kirby Co. (NYSE:KEX) to Post $0.12 EPS

Wall Street brokerages expect Kirby Co. (NYSE:KEX) to post earnings per share (EPS) of $0.12 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Kirby’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at $0.08. Kirby posted earnings per share of $0.42 during the same quarter last year, which would indicate a negative year-over-year growth rate of 71.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, July 29th.

According to Zacks, analysts expect that Kirby will report full-year earnings of $1.10 per share for the current financial year, with EPS estimates ranging from $0.87 to $1.40. For the next financial year, analysts expect that the company will post earnings of $2.46 per share, with EPS estimates ranging from $2.09 to $2.80. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Kirby.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, April 29th. The shipping company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The company had revenue of $496.85 million for the quarter, compared to analysts’ expectations of $474.03 million. Kirby had a positive return on equity of 3.90% and a negative net margin of 8.27%. The firm’s quarterly revenue was down 22.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS.

Separately, Jefferies Financial Group upped their price target on Kirby from $48.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, April 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $48.25.

Shares of KEX stock traded down $0.31 during trading hours on Tuesday, reaching $65.63. 490,352 shares of the company’s stock were exchanged, compared to its average volume of 427,498. The stock’s 50 day moving average is $62.83 and its 200-day moving average is $55.31. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -20.38, a P/E/G ratio of 4.27 and a beta of 1.42. The company has a current ratio of 2.36, a quick ratio of 1.64 and a debt-to-equity ratio of 0.51. Kirby has a fifty-two week low of $35.10 and a fifty-two week high of $70.00.

In related news, VP Scott P. Miller sold 1,298 shares of the company’s stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $56.64, for a total value of $73,518.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William M. Waterman sold 25,000 shares of the company’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $57.74, for a total value of $1,443,500.00. Following the completion of the transaction, the director now directly owns 72,101 shares in the company, valued at $4,163,111.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,581 shares of company stock worth $2,419,497. Insiders own 1.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of KEX. Eudaimonia Partners LLC purchased a new stake in shares of Kirby during the 4th quarter worth $26,000. Norman Fields Gottscho Capital Management LLC acquired a new stake in Kirby during the 4th quarter worth $207,000. Crossmark Global Holdings Inc. acquired a new position in Kirby in the fourth quarter valued at $208,000. Arizona State Retirement System acquired a new position in Kirby in the fourth quarter valued at $226,000. Finally, Americana Partners LLC acquired a new position in Kirby in the fourth quarter valued at $248,000. 90.26% of the stock is owned by institutional investors.

Kirby Company Profile

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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Earnings History and Estimates for Kirby (NYSE:KEX)

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