Brokerages Anticipate Kirby Co. (KEX) Will Post Quarterly Sales of $768.73 Million

Analysts expect Kirby Co. (NYSE:KEX) to announce $768.73 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Kirby’s earnings. The lowest sales estimate is $749.40 million and the highest is $789.30 million. Kirby reported sales of $802.67 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.2%. The company is expected to issue its next earnings report on Wednesday, July 24th.

On average, analysts expect that Kirby will report full year sales of $3.09 billion for the current financial year, with estimates ranging from $3.03 billion to $3.14 billion. For the next financial year, analysts expect that the business will post sales of $3.26 billion, with estimates ranging from $3.13 billion to $3.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Kirby.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, May 2nd. The shipping company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. The company had revenue of $744.60 million for the quarter, compared to the consensus estimate of $737.78 million. Kirby had a return on equity of 5.50% and a net margin of 3.04%. Kirby’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS.

A number of research analysts have issued reports on KEX shares. Bank of America upgraded Kirby from an “underperform” rating to a “buy” rating in a research report on Friday, May 3rd. Zacks Investment Research downgraded Kirby from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. Wells Fargo & Co set a $74.00 target price on Kirby and gave the stock a “hold” rating in a research report on Saturday, February 2nd. BTIG Research initiated coverage on Kirby in a research report on Friday, January 25th. They set a “neutral” rating and a $67.40 target price on the stock. Finally, TheStreet lowered Kirby from a “b-” rating to a “c” rating in a research report on Thursday, January 31st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.60.

NYSE:KEX opened at $84.28 on Friday. Kirby has a 12-month low of $60.63 and a 12-month high of $94.05. The company has a market cap of $5.05 billion, a P/E ratio of 29.47, a P/E/G ratio of 2.23 and a beta of 1.11. The company has a quick ratio of 1.08, a current ratio of 1.92 and a debt-to-equity ratio of 0.55.

In other Kirby news, Director Richard Ross Stewart sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $71.54, for a total value of $178,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ronald A. Dragg sold 500 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $84.00, for a total value of $42,000.00. Following the completion of the transaction, the vice president now directly owns 10,386 shares of the company’s stock, valued at $872,424. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,508 shares of company stock valued at $1,087,423. Insiders own 1.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in Kirby during the 1st quarter worth approximately $589,000. One Wealth Advisors LLC bought a new stake in Kirby during the 1st quarter worth approximately $130,000. Man Group plc grew its position in Kirby by 608.7% during the 1st quarter. Man Group plc now owns 32,346 shares of the shipping company’s stock worth $2,429,000 after acquiring an additional 27,782 shares during the last quarter. M&T Bank Corp bought a new stake in Kirby during the 1st quarter worth approximately $612,000. Finally, Macquarie Group Ltd. grew its position in Kirby by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 384,288 shares of the shipping company’s stock worth $28,864,000 after acquiring an additional 4,134 shares during the last quarter. 96.45% of the stock is owned by institutional investors and hedge funds.

About Kirby

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.

See Also: Why is total return important?

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.