Kirby Corporation (KEX) Expected to Announce Quarterly Sales of $555.20 Million
Brokerages forecast that Kirby Corporation (NYSE:KEX) will announce $555.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kirby Corporation’s earnings, with estimates ranging from $513.90 million to $596.50 million. Kirby Corporation posted sales of $434.71 million in the same quarter last year, which would indicate a positive year over year growth rate of 27.7%. The business is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Kirby Corporation will report full-year sales of $555.20 million for the current fiscal year, with estimates ranging from $2.08 billion to $2.29 billion. For the next financial year, analysts forecast that the firm will post sales of $2.75 billion per share, with estimates ranging from $2.29 billion to $3.05 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Kirby Corporation.
Kirby Corporation (NYSE:KEX) last posted its earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The firm had revenue of $473.33 million during the quarter, compared to the consensus estimate of $478.85 million. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS.
Several equities research analysts have recently issued reports on KEX shares. Jefferies Group LLC reiterated a “buy” rating and set a $85.00 price target on shares of Kirby Corporation in a report on Tuesday, May 30th. BidaskClub upgraded Kirby Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Stifel Nicolaus reduced their price target on Kirby Corporation from $71.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, June 15th. Zacks Investment Research lowered Kirby Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Finally, Cowen and Company reiterated a “hold” rating and set a $70.00 price target on shares of Kirby Corporation in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $71.25.
Kirby Corporation (KEX) traded up 0.16% during mid-day trading on Monday, reaching $62.60. 145,429 shares of the company were exchanged. Kirby Corporation has a 12 month low of $50.80 and a 12 month high of $74.50. The stock’s 50-day moving average is $62.74 and its 200-day moving average is $67.11. The company has a market cap of $3.38 billion, a P/E ratio of 28.69 and a beta of 1.01.
Large investors have recently bought and sold shares of the company. Capstone Asset Management Co. raised its stake in Kirby Corporation by 2.6% in the first quarter. Capstone Asset Management Co. now owns 5,899 shares of the shipping company’s stock valued at $416,000 after buying an additional 150 shares during the period. Louisiana State Employees Retirement System raised its stake in Kirby Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the shipping company’s stock valued at $959,000 after buying an additional 300 shares during the period. Nationwide Fund Advisors raised its stake in Kirby Corporation by 3.1% in the first quarter. Nationwide Fund Advisors now owns 99,142 shares of the shipping company’s stock valued at $6,994,000 after buying an additional 2,935 shares during the period. Glen Harbor Capital Management LLC raised its stake in Kirby Corporation by 0.4% in the first quarter. Glen Harbor Capital Management LLC now owns 36,624 shares of the shipping company’s stock valued at $2,584,000 after buying an additional 140 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Kirby Corporation by 18.1% in the first quarter. Russell Investments Group Ltd. now owns 166,021 shares of the shipping company’s stock valued at $11,711,000 after buying an additional 25,503 shares during the period.
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About Kirby Corporation
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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