Research Analysts Issue Forecasts for Kirby FY2024 Earnings

Kirby Co. (NYSE:KEX) – Stock analysts at Zacks Research raised their FY2024 earnings estimates for shares of Kirby in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst S. Goswami now expects that the shipping company will earn $5.45 per share for the year, up from their prior forecast of $5.41. The consensus estimate for Kirby’s current full-year earnings is $5.44 per share. Zacks Research also issued estimates for Kirby’s Q1 2025 earnings at $1.37 EPS, Q2 2025 earnings at $1.47 EPS, Q3 2025 earnings at $1.74 EPS, Q4 2025 earnings at $1.60 EPS, FY2025 earnings at $6.18 EPS, Q1 2026 earnings at $1.43 EPS, Q2 2026 earnings at $1.62 EPS and Q3 2026 earnings at $1.63 EPS.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The business had revenue of $831.10 million for the quarter, compared to analysts’ expectations of $824.42 million. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the stock. Bank of America upped their price objective on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Stock Down 1.5 %

Shares of KEX opened at $128.04 on Friday. The firm has a market cap of $7.35 billion, a P/E ratio of 24.58, a P/E/G ratio of 0.76 and a beta of 1.17. Kirby has a 1 year low of $72.11 and a 1 year high of $132.04. The stock has a 50 day simple moving average of $122.45 and a two-hundred day simple moving average of $119.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05.

Hedge Funds Weigh In On Kirby

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after acquiring an additional 168 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Kirby during the second quarter valued at approximately $26,000. ORG Wealth Partners LLC purchased a new position in shares of Kirby during the third quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in shares of Kirby in the 2nd quarter worth approximately $32,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Kirby in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Transactions at Kirby

In other news, CEO David W. Grzebinski sold 26,358 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the transaction, the chief executive officer now owns 63,399 shares in the company, valued at $7,637,043.54. This trade represents a 29.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ronald A. Dragg sold 2,313 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the sale, the vice president now directly owns 7,683 shares in the company, valued at approximately $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,596 shares of company stock worth $7,515,760. 1.50% of the stock is currently owned by insiders.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.