Analysts Offer Predictions for Kirby Corp.’s FY2016 Earnings (KEX)
Kirby Corp. (NYSE:KEX) – Seaport Global Securities issued their FY2016 earnings per share (EPS) estimates for Kirby Corp. in a research report issued on Thursday. Seaport Global Securities analyst K. Sterling anticipates that the firm will post earnings of $2.57 per share for the year. Seaport Global Securities has a “Neutral” rating and a $55.00 price objective on the stock. Seaport Global Securities also issued estimates for Kirby Corp.’s Q1 2017 earnings at $0.40 EPS, Q2 2017 earnings at $0.44 EPS, Q3 2017 earnings at $0.48 EPS, Q4 2017 earnings at $0.48 EPS, FY2017 earnings at $1.80 EPS and FY2018 earnings at $2.22 EPS.
Other equities research analysts have also recently issued reports about the company. Vetr cut Kirby Corp. from a “hold” rating to a “sell” rating and set a $53.00 price objective for the company. in a research report on Monday, August 8th. Jefferies Group reissued a “buy” rating on shares of Kirby Corp. in a research report on Monday, August 1st. Royal Bank Of Canada raised Kirby Corp. from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $68.00 in a research report on Tuesday, September 20th. Wells Fargo & Co. cut Kirby Corp. from a “market perform” rating to an “underperform” rating and set a $46.00 target price for the company. in a research report on Monday, July 25th. Finally, Stifel Nicolaus raised their target price on Kirby Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, September 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $61.31.
Kirby Corp. (NYSE:KEX) opened at 65.20 on Monday. Kirby Corp. has a 12 month low of $44.63 and a 12 month high of $73.25. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 22.00 and a beta of 1.03. The company has a 50-day moving average of $60.07 and a 200-day moving average of $61.14.
Kirby Corp. (NYSE:KEX) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. The business earned $434.70 million during the quarter, compared to analyst estimates of $274.21 million. Kirby Corp. had a net margin of 8.78% and a return on equity of 6.85%. The company’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 earnings per share.
Several hedge funds have recently made changes to their positions in KEX. BlackRock Group LTD raised its stake in shares of Kirby Corp. by 31.7% in the first quarter. BlackRock Group LTD now owns 16,499 shares of the company’s stock worth $995,000 after buying an additional 3,969 shares during the period. State Street Corp raised its stake in shares of Kirby Corp. by 0.6% in the first quarter. State Street Corp now owns 1,517,214 shares of the company’s stock worth $91,468,000 after buying an additional 8,771 shares during the period. Geode Capital Management LLC raised its stake in shares of Kirby Corp. by 4.3% in the first quarter. Geode Capital Management LLC now owns 328,135 shares of the company’s stock worth $19,783,000 after buying an additional 13,670 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Kirby Corp. by 52.3% in the first quarter. Nuveen Asset Management LLC now owns 35,216 shares of the company’s stock worth $2,123,000 after buying an additional 12,100 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Kirby Corp. by 2.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 48,824 shares of the company’s stock worth $2,944,000 after buying an additional 1,207 shares during the period. Institutional investors own 99.40% of the company’s stock.
About Kirby Corp.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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