Zacks Research Has Strong Estimate for Kirby FY2024 Earnings

Kirby Co. (NYSE:KEX) – Equities researchers at Zacks Research boosted their FY2024 earnings estimates for Kirby in a report released 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 quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. Kirby’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS.

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

Kirby Trading Up 1.1 %

Shares of Kirby stock opened at $129.95 on Friday. The stock has a 50 day moving average of $121.93 and a 200 day moving average of $119.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 0.76 and a beta of 1.17. Kirby has a fifty-two week low of $72.11 and a fifty-two week high of $132.04.

Insider Activity

In other news, CEO David W. Grzebinski sold 26,358 shares of Kirby 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 completion of the transaction, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. This trade represents a 29.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The trade was a 35.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,596 shares of company stock valued at $7,515,760. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kirby

Large investors have recently modified their holdings of the company. Sei Investments Co. raised its stake in 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 buying an additional 16,373 shares in the last quarter. SG Americas Securities LLC lifted its stake in Kirby by 201.8% during the second quarter. SG Americas Securities LLC now owns 16,213 shares of the shipping company’s stock worth $1,941,000 after purchasing an additional 10,841 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Kirby in the first quarter valued at approximately $1,031,000. Bessemer Group Inc. increased its stake in Kirby by 23.2% in the first quarter. Bessemer Group Inc. now owns 250,710 shares of the shipping company’s stock valued at $23,897,000 after purchasing an additional 47,134 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Kirby during the first quarter worth approximately $22,877,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

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.