Wall Street analysts expect Kirby Co. (NYSE:KEX) to report $741.04 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Kirby’s earnings, with estimates ranging from $722.92 million to $767.80 million. Kirby posted sales of $704.85 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The firm is scheduled to report its next quarterly earnings results on Thursday, October 24th.
On average, analysts expect that Kirby will report full-year sales of $2.99 billion for the current fiscal year, with estimates ranging from $2.93 billion to $3.07 billion. For the next year, analysts expect that the company will report sales of $3.15 billion, with estimates ranging from $3.04 billion to $3.21 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Kirby.
Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, July 25th. The shipping company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). Kirby had a return on equity of 5.50% and a net margin of 3.70%. The firm had revenue of $771.00 million during the quarter, compared to analyst estimates of $767.04 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year.
In other news, insider Dorman Lynn Strahan sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $78.72, for a total value of $118,080.00. Following the completion of the transaction, the insider now directly owns 20,421 shares in the company, valued at $1,607,541.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ronald A. Dragg sold 500 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $84.00, for a total transaction of $42,000.00. Following the completion of the transaction, the vice president now 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 90 days, insiders sold 22,000 shares of company stock valued at $1,807,080. 1.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its holdings in shares of Kirby by 103.1% in the second quarter. Advisory Services Network LLC now owns 325 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 165 shares in the last quarter. Carroll Financial Associates Inc. acquired a new stake in Kirby during the first quarter valued at approximately $36,000. Investors Research Corp acquired a new stake in Kirby during the first quarter valued at approximately $56,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kirby by 32.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 823 shares of the shipping company’s stock valued at $65,000 after purchasing an additional 201 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in Kirby during the fourth quarter valued at approximately $102,000. Institutional investors and hedge funds own 95.31% of the company’s stock.
KEX stock traded down $1.21 during trading on Friday, reaching $74.87. The stock had a trading volume of 370,233 shares, compared to its average volume of 545,460. Kirby has a 1-year low of $60.63 and a 1-year high of $88.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.92 and a quick ratio of 1.08. The firm has a market capitalization of $4.69 billion, a P/E ratio of 26.18, a P/E/G ratio of 2.47 and a beta of 1.02. The company has a fifty day moving average of $77.40.
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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