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.
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.
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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