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Kirby (KEX) Moves 4.7% Higher: Will This Strength Last?
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Kirby (KEX - Free Report) shares soared 4.7% in the last trading session to close at $129.59. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.3% gain over the past four weeks.
Shares of Kirby have gained 65% year to date driven by the improving sentiment pertaining to the capesize market. In fact, this year the capesize market has undergone the strongest first quarter since 2011. The current northward movement of the Baltic Dry Index is owing to the spike in capesize spot rates.
This barge operator is expected to post quarterly earnings of $1.32 per share in its upcoming report, which represents a year-over-year change of +39%. Revenues are expected to be $821.73 million, up 5.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Kirby, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on KEX going forward to see if this recent jump can turn into more strength down the road.
Kirby is part of the Zacks Transportation - Shipping industry. Okeanis Eco Tankers Corp. (ECO - Free Report) , another stock in the same industry, closed the last trading session 1.6% higher at $30.98. ECO has returned 0.9% in the past month.
Okeanis Eco Tankers Corp.'s consensus EPS estimate for the upcoming report has changed +2.4% over the past month to $0.90. Compared to the company's year-ago EPS, this represents a change of -45.5%. Okeanis Eco Tankers Corp. currently boasts a Zacks Rank of #2 (Buy).
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Kirby (KEX) Moves 4.7% Higher: Will This Strength Last?
Kirby (KEX - Free Report) shares soared 4.7% in the last trading session to close at $129.59. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.3% gain over the past four weeks.
Shares of Kirby have gained 65% year to date driven by the improving sentiment pertaining to the capesize market. In fact, this year the capesize market has undergone the strongest first quarter since 2011. The current northward movement of the Baltic Dry Index is owing to the spike in capesize spot rates.
This barge operator is expected to post quarterly earnings of $1.32 per share in its upcoming report, which represents a year-over-year change of +39%. Revenues are expected to be $821.73 million, up 5.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Kirby, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on KEX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Kirby is part of the Zacks Transportation - Shipping industry. Okeanis Eco Tankers Corp. (ECO - Free Report) , another stock in the same industry, closed the last trading session 1.6% higher at $30.98. ECO has returned 0.9% in the past month.
Okeanis Eco Tankers Corp.'s consensus EPS estimate for the upcoming report has changed +2.4% over the past month to $0.90. Compared to the company's year-ago EPS, this represents a change of -45.5%. Okeanis Eco Tankers Corp. currently boasts a Zacks Rank of #2 (Buy).