Analysts forecast that Kirby Co. (NYSE:KEX) will announce $698.21 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Kirby’s earnings, with the lowest sales estimate coming in at $693.70 million and the highest estimate coming in at $702.71 million. Kirby reported sales of $491.71 million during the same quarter last year, which would suggest a positive year over year growth rate of 42%. The firm is expected to issue its next quarterly earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that Kirby will report full year sales of $698.21 million for the current fiscal year, with estimates ranging from $2.33 billion to $2.87 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.00 billion per share, with estimates ranging from $2.88 billion to $3.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Kirby.

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

KEX has been the topic of several research reports. Bank of America lifted their target price on Kirby from $65.00 to $66.00 and gave the stock an “underperform” rating in a report on Thursday, February 1st. 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 report on Monday, January 22nd. Stephens set a $89.00 target price on Kirby and gave the stock a “hold” rating in a report on Monday. Zacks Investment Research raised Kirby from a “strong sell” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $67.00 target price on shares of Kirby in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.10.

Shares of Kirby (NYSE KEX) opened at $77.15 on Wednesday. Kirby has a twelve month low of $59.25 and a twelve month high of $80.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23. The stock has a market capitalization of $4,519.06, a PE ratio of 14.34, a PEG ratio of 3.40 and a beta of 1.03.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KEX. Diamond Hill Capital Management Inc. grew its position in Kirby by 40.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,491,202 shares of the shipping company’s stock worth $164,295,000 after acquiring an additional 713,836 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Kirby by 65.9% in the second quarter. Lord Abbett & CO. LLC now owns 788,653 shares of the shipping company’s stock worth $52,721,000 after acquiring an additional 313,184 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Kirby by 12.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock worth $143,380,000 after acquiring an additional 246,064 shares in the last quarter. Koch Industries Inc. purchased a new position in Kirby in the second quarter worth about $216,000. Finally, Schroder Investment Management Group grew its position in Kirby by 42.6% in the third quarter. Schroder Investment Management Group now owns 673,103 shares of the shipping company’s stock worth $45,199,000 after acquiring an additional 201,037 shares in the last quarter. Institutional investors own 96.21% of the company’s stock.

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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.

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Earnings History and Estimates for Kirby (NYSE:KEX)

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