Kirby Co. (NYSE:KEX) Forecasted to Post Q3 2019 Earnings of $0.69 Per Share

Kirby Co. (NYSE:KEX) – Seaport Global Securities issued their Q3 2019 earnings per share estimates for shares of Kirby in a note issued to investors on Tuesday, August 13th. Seaport Global Securities analyst K. Sterling forecasts that the shipping company will earn $0.69 per share for the quarter. Seaport Global Securities also issued estimates for Kirby’s Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $2.91 EPS, Q1 2020 earnings at $0.64 EPS, Q2 2020 earnings at $0.83 EPS, Q3 2020 earnings at $0.98 EPS, Q4 2020 earnings at $1.01 EPS and FY2020 earnings at $3.45 EPS.

Several other equities analysts also recently weighed in on the stock. Stephens upgraded shares of Kirby from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $93.00 to $96.00 in a research note on Monday, July 29th. TheStreet upgraded shares of Kirby from a “c+” rating to a “b” rating in a research report on Thursday, May 2nd. Zacks Investment Research lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Bank of America upgraded shares of Kirby from an “underperform” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Co raised their price objective on shares of Kirby from $74.00 to $80.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $81.13.

KEX opened at $73.17 on Thursday. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 2.33 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $75.88 and a 200-day moving average price of $77.60. Kirby has a twelve month low of $60.63 and a twelve month high of $88.78.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, July 25th. The shipping company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.02). The business had revenue of $771.00 million during the quarter, compared to analysts’ expectations of $767.04 million. Kirby had a return on equity of 5.47% and a net margin of 3.70%. Kirby’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS.

Institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC lifted its position in Kirby by 103.1% during the second quarter. Advisory Services Network LLC now owns 325 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 165 shares during the last quarter. Carroll Financial Associates Inc. bought a new stake in Kirby during the first quarter valued at approximately $36,000. Investors Research Corp bought a new stake in Kirby during the first quarter valued at approximately $56,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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, Huntington National Bank lifted its position in Kirby by 10.1% during the second quarter. Huntington National Bank now owns 1,663 shares of the shipping company’s stock valued at $131,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 95.01% of the company’s stock.

In other news, insider Dorman Lynn Strahan sold 1,500 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William M. Waterman sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $82.35, for a total transaction of $1,647,000.00. Following the completion of the transaction, the director now owns 91,260 shares of the company’s stock, valued at $7,515,261. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

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.

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Earnings History and Estimates for Kirby (NYSE:KEX)

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