Analysts forecast that Kirby Co. (NYSE:KEX) will announce sales of $621.62 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Kirby’s earnings, with the highest sales estimate coming in at $646.90 million and the lowest estimate coming in at $596.34 million. Kirby posted sales of $771.04 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 19.4%. The firm is expected to issue its next earnings report on Thursday, July 23rd.
On average, analysts expect that Kirby will report full year sales of $2.51 billion for the current financial year, with estimates ranging from $2.42 billion to $2.60 billion. For the next financial year, analysts expect that the firm will report sales of $2.62 billion, with estimates ranging from $2.51 billion to $2.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Kirby.
Kirby (NYSE:KEX) last issued its quarterly earnings results on Tuesday, May 5th. The shipping company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.15. Kirby had a positive return on equity of 5.00% and a negative net margin of 5.49%. The firm had revenue of $643.90 million during the quarter, compared to analysts’ expectations of $627.88 million. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis.
In other news, Director Monte J. Miller sold 6,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $69.43, for a total transaction of $416,580.00. Following the completion of the transaction, the director now directly owns 20,189 shares in the company, valued at approximately $1,401,722.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kim B. Clarke purchased 1,000 shares of the stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $52.07 per share, with a total value of $52,070.00. Following the completion of the acquisition, the vice president now owns 3,656 shares in the company, valued at approximately $190,367.92. The disclosure for this purchase can be found here. Corporate insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KEX. Stifel Financial Corp purchased a new position in shares of Kirby during the 3rd quarter worth $1,046,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kirby by 68.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,383 shares of the shipping company’s stock worth $124,000 after acquiring an additional 560 shares in the last quarter. Callahan Advisors LLC acquired a new position in Kirby during the 4th quarter worth about $231,000. Strs Ohio lifted its stake in Kirby by 127.7% during the 4th quarter. Strs Ohio now owns 10,120 shares of the shipping company’s stock worth $906,000 after acquiring an additional 5,676 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in Kirby by 1.1% during the 4th quarter. State of Michigan Retirement System now owns 17,600 shares of the shipping company’s stock worth $1,576,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.43% of the company’s stock.
Shares of KEX traded down $1.69 during trading hours on Wednesday, hitting $49.33. 389,546 shares of the stock were exchanged, compared to its average volume of 568,419. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.07 and a current ratio of 2.76. The stock’s 50-day moving average price is $48.23 and its two-hundred day moving average price is $68.44. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.30 and a beta of 1.44. Kirby has a 12-month low of $32.76 and a 12-month high of $92.30.
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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