Brokerages forecast that Kirby Co. (NYSE:KEX) will announce sales of $702.86 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Kirby’s earnings, with estimates ranging from $687.40 million to $708.80 million. Kirby reported sales of $708.11 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that Kirby will report full year sales of $2.85 billion for the current financial year, with estimates ranging from $2.34 billion to $3.03 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.08 billion, with estimates ranging from $2.84 billion to $3.20 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Kirby.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, October 25th. The shipping company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $704.85 million during the quarter, compared to analyst estimates of $780.20 million. Kirby had a return on equity of 5.05% and a net margin of 11.30%.

A number of equities analysts have recently weighed in on KEX shares. Zacks Investment Research raised Kirby from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Gabelli raised Kirby from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Monday, July 30th. ValuEngine raised Kirby from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. Finally, Wells Fargo & Co reduced their price target on Kirby from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Kirby presently has an average rating of “Buy” and an average price target of $89.25.

Shares of NYSE KEX traded down $3.57 during mid-day trading on Friday, reaching $71.13. The company’s stock had a trading volume of 20,240 shares, compared to its average volume of 483,829. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.02 and a beta of 1.00. The company has a quick ratio of 1.06, a current ratio of 1.86 and a debt-to-equity ratio of 0.43. Kirby has a 52 week low of $61.90 and a 52 week high of $94.05.

In other news, insider Dorman Lynn Strahan sold 3,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $86.88, for a total transaction of $275,409.60. Following the completion of the transaction, the insider now directly owns 29,389 shares of the company’s stock, valued at approximately $2,553,316.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Amy D. Husted sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $74.79, for a total transaction of $89,748.00. Following the transaction, the vice president now directly owns 15,246 shares of the company’s stock, valued at $1,140,248.34. The disclosure for this sale can be found here. Insiders have sold 57,304 shares of company stock valued at $5,016,998 in the last quarter. Insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. NumerixS Investment Technologies Inc purchased a new position in shares of Kirby during the 2nd quarter worth approximately $163,000. Greenwood Capital Associates LLC acquired a new stake in Kirby during the second quarter worth approximately $206,000. Engineers Gate Manager LP acquired a new stake in Kirby during the third quarter worth approximately $206,000. CIBC Asset Management Inc acquired a new position in shares of Kirby in the 2nd quarter valued at $210,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Kirby during the 2nd quarter valued at $225,000. 95.62% of the stock is owned by institutional investors and hedge funds.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The 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.

Featured Story: Why Dividend Stocks May Be Right for You

Get a free copy of the Zacks research report on Kirby (KEX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kirby (NYSE:KEX)

Receive News & Ratings for Kirby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirby and related companies with MarketBeat.com's FREE daily email newsletter.