Brokers Issue Forecasts for Kirby Co.’s FY2018 Earnings (KEX)

Kirby Co. (NYSE:KEX) – Stock analysts at Gabelli reduced their FY2018 earnings per share (EPS) estimates for shares of Kirby in a report issued on Monday, October 29th, Zacks Investment Research reports. Gabelli analyst J. Bergner now forecasts that the shipping company will post earnings per share of $2.80 for the year, down from their prior forecast of $2.90. Gabelli has a “Buy” rating and a $96.00 price target on the stock. Gabelli also issued estimates for Kirby’s FY2019 earnings at $3.65 EPS, FY2020 earnings at $4.50 EPS and FY2021 earnings at $5.15 EPS.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, October 25th. The shipping company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.06. Kirby had a net margin of 11.30% and a return on equity of 5.05%. The company had revenue of $704.85 million for the quarter, compared to the consensus estimate of $780.20 million.

Several other brokerages also recently issued reports on KEX. Zacks Investment Research raised shares of Kirby from a “sell” rating to a “hold” rating in a report on Friday, August 24th. ValuEngine raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Monday, July 30th. Finally, Wells Fargo & Co reduced their price target on shares of Kirby from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $89.25.

Shares of NYSE KEX traded up $1.41 on Wednesday, hitting $72.66. The company’s stock had a trading volume of 232,223 shares, compared to its average volume of 476,020. Kirby has a 12-month low of $61.90 and a 12-month high of $94.05. The company has a market capitalization of $4.27 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 1.90 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 1.06.

In related news, Director J H. Pyne sold 52,934 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $87.88, for a total transaction of $4,651,839.92. Following the transaction, the director now owns 225,233 shares of the company’s stock, valued at $19,793,476.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy D. Husted sold 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were 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 in the company, valued at approximately $1,140,248.34. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in KEX. Baillie Gifford & Co. increased its position in Kirby by 87.1% during the third quarter. Baillie Gifford & Co. now owns 5,700,947 shares of the shipping company’s stock worth $468,902,000 after purchasing an additional 2,653,183 shares during the last quarter. Capital International Investors acquired a new position in Kirby during the third quarter worth approximately $47,952,000. Van ECK Associates Corp increased its position in Kirby by 90.8% during the second quarter. Van ECK Associates Corp now owns 797,270 shares of the shipping company’s stock worth $66,652,000 after purchasing an additional 379,470 shares during the last quarter. Wells Fargo & Company MN increased its position in Kirby by 124.6% during the second quarter. Wells Fargo & Company MN now owns 528,341 shares of the shipping company’s stock worth $44,169,000 after purchasing an additional 293,152 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Kirby during the second quarter worth approximately $21,646,000. 95.62% of the stock is currently 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.

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Earnings History and Estimates for Kirby (NYSE:KEX)

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