Brokerages expect Kirby Co. (NYSE:KEX) to report quarterly sales of $667.40 million
Wall Street analysts expect Kirby Co. (NYSE:KEX – Get Rating) to post sales of $667.40 million for the current quarter, according to Zacks Investment Research. Two analysts provided estimates of Kirby’s earnings, with the highest sales estimate of $682.89 million and the lowest estimate of $651.90 million. Kirby recorded sales of $559.62 million in the same quarter last year, which would indicate a positive growth rate of 19.3% year over year. The company is expected to release its next earnings report on Monday, January 1.
According to Zacks, analysts expect Kirby to post $2.81 billion in revenue for the current fiscal year, with estimates ranging from $2.74 billion to $2.87 billion. For next year, analysts expect the company to post sales of $3.15 billion, with estimates ranging from $2.90 billion to $3.40 billion. Zacks Investment Research sell averages are an average based on a survey of sell-side research analysts who track Kirby.
Kirby (NYSE:KEX – Get Rating) last released its results on Thursday, April 28. The shipping company reported earnings per share (EPS) of $0.29 for the quarter, meeting analyst consensus estimates of $0.29. The company posted revenue of $610.78 million for the quarter, versus $586.68 million expected by analysts. Kirby had a negative net margin of 9.58% and a positive return on equity of 1.85%. The company’s revenue for the quarter increased by 22.9% compared to the same quarter last year. During the same quarter of the previous year, the company posted EPS ($0.06).
Several research analysts have recently weighed in on KEX stocks. Stifel Nicolaus raised his price target on Kirby shares from $71.00 to $80.00 and gave the stock a “buy” rating in a Tuesday, April 5 report. StockNews.com began covering Kirby shares in a report on Thursday, March 31. They issued a “hold” rating on the stock. Three research analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $69.25.
Kirby stock opened at $68.37 on Monday. The stock has a market capitalization of $4.12 billion, a P/E ratio of -18.14, a PEG ratio of 2.66 and a beta of 1.37. Kirby has a fifty-two week low of $47.58 and a fifty-two week high of $75.08. The company’s fifty-day moving average price is $66.85 and its 200-day moving average price is $63.94. The company has a debt ratio of 0.40, a quick ratio of 1.27 and a current ratio of 1.98.
Separately, Vice Chairman Scott P. Miller sold 607 shares of the company in a trade on Friday, April 29. The shares were sold at an average price of $67.08, for a total value of $40,717.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, Vice Chairman Kurt A. Niemietz sold 750 shares of the company in a trade dated Friday, March 4. The shares were sold at an average price of $70.53, for a total transaction of $52,897.50. The disclosure of this sale can be found here. Insiders sold 7,857 shares of the company valued at $562,955 during the last quarter. 1.80% of the shares are held by insiders of the company.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in Kirby during the first quarter worth approximately $259,000. Neuberger Berman Group LLC increased its position in Kirby by 18,106.0% during the first quarter. Neuberger Berman Group LLC now owns 1,149,345 shares of the shipping company valued at $82,971,000 after purchasing an additional 1,143,032 shares during the period. BNP Paribas Arbitrage SA increased its stake in Kirby shares by 22.1% during the first quarter. BNP Paribas Arbitrage SA now owns 7,942 shares in the shipping company valued at $573,000 after acquiring an additional 1,436 shares in the last quarter. Jane Street Group LLC increased its stake in Kirby shares by 4.0% during the first quarter. Jane Street Group LLC now owns 9,181 shares of the shipping company valued at $663,000 after acquiring 349 additional shares in the last quarter. Finally, Alyeska Investment Group LP bought a new position in Kirby stock during the first quarter valued at around $461,000. Institutional investors and hedge funds hold 95.14% of the company’s shares.
Kirby Company Profile (Get a rating)
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 tank barges throughout the Mississippi River System, Gulf Intracoastal Waterway, along all three US coasts. States, as well as Alaska and Hawaii.
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