Kirby Corporation (KEX) Updates FY17 Earnings Guidance
Kirby Corporation (NYSE:KEX) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.90 to $2.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.95. Kirby Corporation also updated its Q4 guidance to $0.40-0.55 EPS.
A number of research firms have weighed in on KEX. BidaskClub cut shares of Kirby Corporation from a hold rating to a sell rating in a research report on Monday, July 24th. Jefferies Group LLC restated a buy rating and set a $85.00 price objective on shares of Kirby Corporation in a research report on Monday, October 16th. Zacks Investment Research cut shares of Kirby Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, August 1st. Stifel Nicolaus restated a hold rating and set a $69.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. Finally, Cowen and Company restated a hold rating and set a $70.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $71.71.
Shares of Kirby Corporation (NYSE KEX) traded down $66.90 during midday trading on Friday, hitting $66.90. 197,326 shares of the stock were exchanged, compared to its average volume of 333,387.
The firm has a market cap of $$3,602.13, a price-to-earnings ratio of 31.61 and a beta of 1.07. The firm has a market cap of $$3,602.13 and a price-to-earnings ratio of 31.61.
Kirby Corporation (NYSE:KEX) last issued its earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. The business had revenue of $541.30 million during the quarter, compared to analysts’ expectations of $517.54 million. Kirby Corporation had a net margin of 5.88% and a return on equity of 4.68%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. analysts anticipate that Kirby Corporation will post 1.97 EPS for the current fiscal year.
Kirby Corporation 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.
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