Kirby Corporation (NYSE:KEX) – Stock analysts at Seaport Global Securities cut their Q3 2017 earnings estimates for shares of Kirby Corporation in a research note issued to investors on Thursday. Seaport Global Securities analyst K. Sterling now anticipates that the shipping company will post earnings of $0.43 per share for the quarter, down from their previous estimate of $0.48. Seaport Global Securities also issued estimates for Kirby Corporation’s Q4 2017 earnings at $0.52 EPS, FY2017 earnings at $1.95 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.73 EPS and FY2018 earnings at $2.50 EPS.

Kirby Corporation (NYSE:KEX) last released its earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $473.33 million during the quarter, compared to analyst estimates of $478.85 million. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. Kirby Corporation’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share.

WARNING: This story was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.thecerbatgem.com/2017/09/17/brokers-offer-predictions-for-kirby-corporations-q3-2017-earnings-kex.html.

KEX has been the subject of a number of other research reports. Zacks Investment Research raised shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub raised shares of Kirby Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Cowen and Company reaffirmed a “hold” rating and issued a $70.00 target price on shares of Kirby Corporation in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $69.00 target price on shares of Kirby Corporation in a research report on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Kirby Corporation in a research report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $71.25.

Kirby Corporation (NYSE:KEX) opened at 64.15 on Friday. The stock has a market cap of $3.46 billion, a P/E ratio of 29.40 and a beta of 1.01. Kirby Corporation has a 1-year low of $55.11 and a 1-year high of $74.50. The company has a 50-day moving average price of $62.06 and a 200 day moving average price of $66.31.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Kirby Corporation by 12,366.8% during the 1st quarter. BlackRock Inc. now owns 5,003,672 shares of the shipping company’s stock worth $353,010,000 after acquiring an additional 4,963,536 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its stake in shares of Kirby Corporation by 5.0% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 4,472,441 shares of the shipping company’s stock worth $298,983,000 after acquiring an additional 213,303 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Kirby Corporation by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,356,474 shares of the shipping company’s stock worth $291,231,000 after acquiring an additional 197,084 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Kirby Corporation by 1.8% during the 2nd quarter. Baillie Gifford & Co. now owns 3,212,470 shares of the shipping company’s stock worth $214,754,000 after acquiring an additional 55,935 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Kirby Corporation by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,927,962 shares of the shipping company’s stock worth $128,885,000 after acquiring an additional 24,514 shares during the last quarter.

About Kirby Corporation

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

Earnings History and Estimates for Kirby Corporation (NYSE:KEX)

Receive News & Stock Ratings for Kirby Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirby Corporation and related stocks with our FREE daily email newsletter.