Zacks Research Has Strong Forecast for Kirby FY2025 Earnings

Key Points

• Zacks Research raised its FY2025 earnings per share estimate for Kirby Corporation to $6.32, slightly up from $6.31, while maintaining a "Hold" rating on the stock.
• Bank of America reduced its price target on Kirby shares from $110.00 to $107.00 but still carries a "buy" rating, with a consensus target price of $121.00.
• Kirby recently reported a quarterly EPS of $1.67, exceeding the consensus estimate of $1.59, with revenue growth of 3.8% year-over-year.

Kirby Corporation (NYSE:KEX - Free Report) - Research analysts at Zacks Research increased their FY2025 earnings per share (EPS) estimates for Kirby in a report issued on Thursday, September 4th. Zacks Research analyst Team now anticipates that the shipping company will post earnings of $6.32 per share for the year, up from their prior forecast of $6.31. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Kirby's current full-year earnings is $6.57 per share.

Separately, Bank of America lowered their price target on shares of Kirby from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.00.

Kirby Stock Performance

NYSE KEX traded down $0.90 during trading hours on Monday, hitting $86.97. The company had a trading volume of 947,268 shares, compared to its average volume of 656,159. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. The firm has a market cap of $4.85 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 0.91 and a beta of 1.09. Kirby has a fifty-two week low of $83.94 and a fifty-two week high of $132.21. The business has a fifty day simple moving average of $105.09 and a 200-day simple moving average of $104.03.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The business had revenue of $855.46 million for the quarter, compared to analysts' expectations of $851.94 million. During the same period in the prior year, the firm earned $1.43 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. increased its stake in shares of Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock valued at $258,900,000 after acquiring an additional 959,209 shares during the period. Norges Bank acquired a new position in shares of Kirby during the 2nd quarter valued at $78,256,000. Hood River Capital Management LLC bought a new stake in shares of Kirby in the 2nd quarter worth $73,784,000. Select Equity Group L.P. lifted its holdings in shares of Kirby by 59.0% in the fourth quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company's stock valued at $165,650,000 after buying an additional 581,215 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Kirby by 122.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 633,812 shares of the shipping company's stock valued at $64,022,000 after buying an additional 348,665 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors.

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.