Analysts Issue Forecasts for Kirby's Q4 Earnings (NYSE:KEX)

Kirby Co. (NYSE:KEX - Free Report) - Research analysts at Zacks Research decreased their Q4 2024 EPS estimates for shares of Kirby in a research note issued on Wednesday, November 13th. Zacks Research analyst S. Goswami now expects that the shipping company will post earnings per share of $1.28 for the quarter, down from their previous forecast of $1.37. The consensus estimate for Kirby's current full-year earnings is $5.45 per share.

Other analysts have also issued research reports about the company. StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a research note on Sunday, September 22nd. Bank of America raised their price target on Kirby from $138.00 to $141.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kirby presently has an average rating of "Moderate Buy" and an average price target of $123.80.

Kirby Price Performance

Shares of KEX stock traded down $0.14 during trading on Monday, hitting $127.90. The company had a trading volume of 174,112 shares, compared to its average volume of 455,745. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The stock's 50-day moving average is $122.45 and its two-hundred day moving average is $119.89. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. Kirby has a 52 week low of $72.11 and a 52 week high of $132.04.

Kirby (NYSE:KEX - Get Free Report) last released its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping 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 company had revenue of $831.10 million for the quarter, compared to analysts' expectations of $824.42 million. During the same period in the previous year, the business posted $1.05 EPS. The business's revenue for the quarter was up 8.7% compared to the same quarter last year.

Hedge Funds Weigh In On Kirby

A number of large investors have recently bought and sold shares of the business. Sei Investments Co. increased its holdings in shares of Kirby by 32.4% in the first quarter. Sei Investments Co. now owns 66,833 shares of the shipping company's stock valued at $6,371,000 after purchasing an additional 16,373 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Kirby by 2.9% in the first quarter. Orion Portfolio Solutions LLC now owns 18,370 shares of the shipping company's stock valued at $1,751,000 after purchasing an additional 523 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Kirby in the first quarter valued at approximately $1,031,000. Bessemer Group Inc. increased its stake in Kirby by 23.2% during the first quarter. Bessemer Group Inc. now owns 250,710 shares of the shipping company's stock worth $23,897,000 after acquiring an additional 47,134 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Kirby by 0.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company's stock worth $2,792,000 after acquiring an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company's stock.

Insider Activity at Kirby

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 63,399 shares of the company's stock, valued at approximately $7,637,043.54. This trade represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O'neil sold 14,031 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $123.29, for a total value of $1,729,881.99. Following the completion of the transaction, the chief operating officer now directly owns 12,746 shares in the company, valued at $1,571,454.34. The trade was a 52.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,596 shares of company stock valued at $7,515,760 over the last ninety days. Insiders own 1.50% of the company's stock.

About Kirby

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.