Kirby Corporation Expected to Post FY2017 Earnings of $2.40 Per Share (KEX)

Kirby Corporation Expected to Post FY2017 Earnings of $2.40 Per Share (KEX)

Kirby Corporation (NYSE:KEX) – Analysts at Jefferies Group lowered their FY2017 earnings estimates for shares of Kirby Corporation in a note issued to investors on Monday. Jefferies Group analyst D. Mavrinac now anticipates that the firm will post earnings per share of $2.40 for the year, down from their previous forecast of $2.83. Jefferies Group currently has a “Buy” rating and a $75.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Stephens downgraded shares of Kirby Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $70.00 to $68.00 in a research note on Monday, November 28th. Zacks Investment Research upgraded shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, January 17th. Seaport Global Securities started coverage on shares of Kirby Corporation in a research note on Thursday, November 10th. They set a “neutral” rating and a $55.00 target price for the company. Finally, OTR Global upgraded shares of Kirby Corporation to a “neutral” rating in a research note on Wednesday, January 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $62.46.

Shares of Kirby Corporation (NYSE:KEX) traded down 1.78% during midday trading on Wednesday, reaching $66.30. The company’s stock had a trading volume of 169,873 shares. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 22.38 and a beta of 1.08. Kirby Corporation has a 52 week low of $48.69 and a 52 week high of $73.25. The company has a 50 day moving average of $66.89 and a 200-day moving average of $60.94.

Several large investors have recently made changes to their positions in the stock. Cambiar Investors LLC boosted its stake in shares of Kirby Corporation by 94.2% in the second quarter. Cambiar Investors LLC now owns 386,850 shares of the company’s stock worth $24,136,000 after buying an additional 187,616 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in shares of Kirby Corporation during the second quarter worth approximately $18,037,000. Rice Hall James & Associates LLC boosted its stake in shares of Kirby Corporation by 26.0% in the second quarter. Rice Hall James & Associates LLC now owns 34,908 shares of the company’s stock worth $2,178,000 after buying an additional 7,207 shares during the last quarter. Huntington National Bank boosted its stake in shares of Kirby Corporation by 66.4% in the second quarter. Huntington National Bank now owns 3,317 shares of the company’s stock worth $207,000 after buying an additional 1,324 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of Kirby Corporation by 5.5% in the second quarter. Frontier Capital Management Co. LLC now owns 1,514,123 shares of the company’s stock worth $94,466,000 after buying an additional 79,520 shares during the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.

About Kirby Corporation

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.

Related posts

Leave a Comment