Wall Street brokerages expect Kirby Co. (NYSE:KEX) to post $540.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Kirby’s earnings, with the highest sales estimate coming in at $548.59 million and the lowest estimate coming in at $532.00 million. Kirby reported sales of $541.16 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.2%. The firm is expected to issue its next quarterly earnings report on Thursday, July 29th.
On average, analysts expect that Kirby will report full-year sales of $2.24 billion for the current fiscal year, with estimates ranging from $2.18 billion to $2.31 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.50 billion, with estimates ranging from $2.32 billion to $2.75 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Kirby.
Kirby (NYSE:KEX) last announced its earnings results on Thursday, April 29th. The shipping company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.17). Kirby had a positive return on equity of 3.90% and a negative net margin of 8.27%. The company had revenue of $496.85 million for the quarter, compared to analyst estimates of $474.03 million. During the same quarter last year, the business posted $0.59 earnings per share. The business’s quarterly revenue was down 22.8% on a year-over-year basis.
Shares of NYSE KEX traded down $0.31 during midday trading on Thursday, reaching $65.63. The company’s stock had a trading volume of 490,352 shares, compared to its average volume of 427,498. The company has a current ratio of 2.36, a quick ratio of 1.64 and a debt-to-equity ratio of 0.51. Kirby has a fifty-two week low of $35.10 and a fifty-two week high of $70.00. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of -20.44, a PEG ratio of 4.27 and a beta of 1.42. The stock has a 50 day simple moving average of $62.89 and a 200-day simple moving average of $55.18.
In other news, VP Scott P. Miller sold 1,298 shares of the business’s stock in a transaction dated Wednesday, February 3rd. The shares were sold at an average price of $56.64, for a total value of $73,518.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Monte J. Miller sold 1,500 shares of the business’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $67.84, for a total transaction of $101,760.00. Following the completion of the sale, the director now directly owns 19,722 shares of the company’s stock, valued at approximately $1,337,940.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,581 shares of company stock valued at $2,419,497. Company insiders own 1.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in KEX. Eudaimonia Partners LLC acquired a new position in Kirby in the fourth quarter valued at about $26,000. Norman Fields Gottscho Capital Management LLC acquired a new position in Kirby in the fourth quarter valued at about $207,000. Crossmark Global Holdings Inc. acquired a new position in Kirby in the fourth quarter valued at about $208,000. Arizona State Retirement System acquired a new position in Kirby in the fourth quarter valued at about $226,000. Finally, Americana Partners LLC acquired a new position in Kirby in the fourth quarter valued at about $248,000. 90.26% of the stock is owned by institutional investors.
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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