G.Research reduces Kirby (NYSE: KEX) to stick
Kirby (NYSE: KEX) was demoted by stock research analysts at G.Research from a “buy” rating to a “maintain” rating in a rating issued to investors on Friday, Zacks.com reports. G.Research also released estimates for Kirby’s profit for fiscal 2021 at $ 1.30, profit for fiscal 2022 at $ 2.40, and profit for fiscal 2025 at $ 4.00.
Several other stock analysts have also recently published reports on KEX. Gabelli reduced Kirby’s stock from a “buy” rating to a “maintain” rating in a research report on Friday. Jefferies Financial Group raised its price target on Kirby from $ 48.00 to $ 58.00 and gave the company a “hold” rating in a report on Wednesday. One analyst rated the stock with a sell rating, four assigned a hold rating, and one issued a buy rating to the company. Kirby currently has a consensus rating of “Hold” and an average price target of $ 48.25.
NYSE KEX opened at $ 67.42 on Friday. The company has a market cap of $ 4.05 billion, a price / earnings ratio of -20.94, a price / earnings-growth ratio of 4.27, and a beta of 1.42. Kirby has a 12 month minimum of $ 35.10 and a 12 month maximum of $ 70.00. The company has a quick ratio of 1.64, a current ratio of 2.36, and a debt ratio of 0.51. The company’s fifty-day moving average is $ 62.69 and its 200-day moving average is $ 55.72.
Kirby (NYSE: KEX) last reported its quarterly results on Thursday, April 29. The shipping company reported EPS of ($ 0.06) for the quarter, missing the Zacks consensus estimate of $ 0.11 by ($ 0.17). Kirby had a negative net margin of 8.27% and a positive return on equity of 3.90%. The company reported revenue of $ 496.85 million for the quarter, compared to analysts’ estimates of $ 474.03 million. During the same period of the previous year, the company posted earnings per share of $ 0.59. The company’s revenue for the quarter was down 22.8% from the same quarter last year. On average, research analysts forecast Kirby to post 1.7 earnings per share for the current fiscal year.
In other Kirby news, Vice President Amy D. Husted sold 1,600 shares in a trade that took place on Thursday, February 25. The stock was sold at an average price of $ 65.00, for a total transaction of $ 104,000.00. Following the transaction, the Vice-President now directly owns 14,166 shares of the company, valued at approximately $ 920,790. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available through this link. In addition, insider Christian G. O’neil sold 2,100 shares of the company in a trade that took place on Friday, February 12. The stock was sold for an average price of $ 60.76, for a total trade of $ 127,596.00. As a result of the sale, the insider now directly owns 20,622 shares of the company, valued at approximately $ 1,252,992.72. Disclosure of this sale can be found here. Insiders have sold 14,283 shares of the company valued at $ 902,478 in the past three months. 1.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently changed their holdings of stocks. Morgan Stanley increased its stake in Kirby shares by 222.1% in the third quarter. Morgan Stanley now owns 69,567 shares of the shipping company valued at $ 2,516,000 after purchasing an additional 47,967 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Kirby in the third quarter for a value of approximately $ 1,637,000. Fruth Investment Management increased its stake in Kirby by 19.7% in the fourth quarter. Fruth Investment Management now owns 24,522 shares of the shipping company valued at $ 1,270,000 after acquiring 4,033 additional shares during the period. James Hambro & Partners purchased a new equity stake in Kirby during the fourth quarter valued at approximately $ 402,000. Finally, Americana Partners LLC acquired a new position in shares of Kirby during the fourth quarter valued at approximately $ 248,000. 90.26% of the shares are currently held by institutional investors and hedge funds.
Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation and towing services for vessels carrying bulk liquid products, as well as tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, along the coast along three coasts of the United States, as well as Alaska and Hawaii.
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7 things to watch out for when student debt forgiveness is adopted
Now that the Biden administration is fully in the driver’s seat, student debt cancellation has come to the fore. Consider these numbers. Student debt is estimated at $ 1.7 trillion. The average student carries around $ 30,000 in student loans.
If $ 10,000 in student debt were to be forgiven, it is estimated that one-third of borrowers (between $ 15 million and $ 16.3 million) would become debt-free. Of course, if the number reaches $ 50,000, as some lawmakers suggest, the impact would be even greater.
Putting aside personal reflections on the wisdom of going this route, it has the potential to trigger a substantial stimulus in the economy.
And as an investor, it’s fair to ask where this money would go. After all, there is nothing wrong with passing this stimulus on to investors.
A counter-argument is that the absence of a monthly payment may not provide enough money to have an impact. However, Senator Elizabeth Warren spoke about the effect of student loans in preventing many Millennials and Gen Zs from pursuing overall life goals such as buying a home, starting a business, or the creation of a family.
With that in mind, we’ve prepared this special presentation that looks at 7 actions that could benefit if borrowers are freed from the burden of student loans.
See “7 Actions to Watch Out for When Enacted Student Debt Forgiveness.”