$0.71 EPS Expected for Kirby Co. (NYSE:KEX) This Quarter
Analysts forecast that Kirby Co. (NYSE:KEX) will post $0.71 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Kirby’s earnings, with estimates ranging from $0.65 to $0.76. Kirby posted earnings per share of $0.70 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The business is expected to report its next earnings results on Thursday, October 24th.
On average, analysts expect that Kirby will report full year earnings of $2.97 per share for the current financial year, with EPS estimates ranging from $2.90 to $3.02. For the next year, analysts anticipate that the business will post earnings of $3.87 per share, with EPS estimates ranging from $3.45 to $4.50. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Kirby.
Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, July 25th. The shipping company reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.02). Kirby had a net margin of 3.70% and a return on equity of 5.47%. The firm had revenue of $771.00 million during the quarter, compared to the consensus estimate of $767.04 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis.
In other news, VP Amy D. Husted sold 6,174 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $78.25, for a total transaction of $483,115.50. Following the sale, the vice president now directly owns 20,545 shares in the company, valued at $1,607,646.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Ronald A. Dragg sold 690 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $82.79, for a total value of $57,125.10. Following the sale, the vice president now owns 11,076 shares in the company, valued at $916,982.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,433 shares of company stock worth $1,369,330. Company insiders own 1.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Chartwell Investment Partners LLC grew its holdings in shares of Kirby by 16.9% during the second quarter. Chartwell Investment Partners LLC now owns 96,360 shares of the shipping company’s stock worth $7,612,000 after purchasing an additional 13,950 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Kirby during the second quarter worth about $679,000. Eaton Vance Management grew its holdings in shares of Kirby by 4.4% during the second quarter. Eaton Vance Management now owns 108,480 shares of the shipping company’s stock worth $8,569,000 after purchasing an additional 4,539 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Kirby during the second quarter worth about $58,163,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Kirby by 9.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 299,964 shares of the shipping company’s stock worth $23,697,000 after purchasing an additional 25,314 shares in the last quarter. Hedge funds and other institutional investors own 94.98% of the company’s stock.
Kirby stock traded up $0.44 during midday trading on Friday, reaching $82.60. The stock had a trading volume of 5,885 shares, compared to its average volume of 346,140. Kirby has a 12 month low of $60.63 and a 12 month high of $86.44. The firm’s 50-day moving average price is $74.67 and its 200 day moving average price is $77.40. The firm has a market capitalization of $4.83 billion, a PE ratio of 28.90, a P/E/G ratio of 2.56 and a beta of 1.03. The company has a quick ratio of 1.19, a current ratio of 2.00 and a debt-to-equity ratio of 0.52.
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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