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Here's Why Investors Should Invest in Kirby (KEX) Stock Now
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Kirby Corporation (KEX - Free Report) performed well in the past year and has the potential to sustain the momentum in the future. If you have not taken advantage of its share price appreciation yet, it’s time to do so.
Let’s take a look at the factors that make the stock a strong investment pick at the moment.
An Outperformer: A glimpse at the company’s price trend reveals that the stock has had an impressive run on the bourse so far this year. Shares of KEX have gained 48.4% year to date, outperforming the industry’s surge of 18.2%.
Image Source: Zacks Investment Research
Solid Zacks Rank: Kirby presently carries a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or 2 offer the best investment opportunities. Thus, the company is a compelling investment proposition at the moment.
Northward Estimate Revisions: The positivity surrounding the stock is evident from the northward movement of estimate revisions. The Zacks Consensus Estimate for third-quarter 2024 earnings has moved up 1.4% in the past 90 days. The Zacks Consensus Estimate for KEX 2024 earnings has been revised 1.5% upward over the past 90 days.
Positive Earnings Surprise History: KEX has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 8.73%.
Earnings Expectations: Earnings growth and stock price gains often indicate a company’s prospects. For third-quarter 2024, KEX’s earnings are expected to grow 40% year over year. For 2024 and 2025, KEX’s earnings are expected to grow 44.35% and 23.70%, year over year, respectively.
Driving Factors: Kirby’s consistent measures to reward its shareholders through share buybacks are appreciative. During 2023, Kirby repurchased 1,485,159 shares for $112.8 million. The company also repurchased 372,265 shares at an average price of $117.33 for $43.7 million in the second quarter of 2024. Such consistent shareholder-friendly moves instill investor confidence and positively impact the company's bottom line.
Kirby’s strong cash flow generating ability raises optimism about the stock. During the first half of 2024, Kirby generated $133 million of cash from operating activities compared with $56.7 million in the year-ago period. For 2024, net cash flow provided by operating activities is anticipated to be in the $600-$700 million band. This expectation is higher than the $540.2 million generated in 2023.
CHRW has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 7.33%.
CHRW has an expected earnings growth rate of 22.42% for 2024. The Zacks Consensus Estimate for CHRW 2024 earnings has been revised 11.3% upward over the past 90 days. Shares of CHRW have gained 14.3% so far this year.
WAB has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 11.83%.
The Zacks Consensus Estimate for WAB’s 2024 earnings has been revised 3.3% upward over the past 90 days. WAB has an expected earnings growth rate of 25.34% for 2024. Shares of WAB have gained 23.5% so far this year.
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Here's Why Investors Should Invest in Kirby (KEX) Stock Now
Kirby Corporation (KEX - Free Report) performed well in the past year and has the potential to sustain the momentum in the future. If you have not taken advantage of its share price appreciation yet, it’s time to do so.
Let’s take a look at the factors that make the stock a strong investment pick at the moment.
An Outperformer: A glimpse at the company’s price trend reveals that the stock has had an impressive run on the bourse so far this year. Shares of KEX have gained 48.4% year to date, outperforming the industry’s surge of 18.2%.
Image Source: Zacks Investment Research
Solid Zacks Rank: Kirby presently carries a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or 2 offer the best investment opportunities. Thus, the company is a compelling investment proposition at the moment.
Northward Estimate Revisions: The positivity surrounding the stock is evident from the northward movement of estimate revisions. The Zacks Consensus Estimate for third-quarter 2024 earnings has moved up 1.4% in the past 90 days. The Zacks Consensus Estimate for KEX 2024 earnings has been revised 1.5% upward over the past 90 days.
Positive Earnings Surprise History: KEX has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 8.73%.
Earnings Expectations: Earnings growth and stock price gains often indicate a company’s prospects. For third-quarter 2024, KEX’s earnings are expected to grow 40% year over year. For 2024 and 2025, KEX’s earnings are expected to grow 44.35% and 23.70%, year over year, respectively.
Driving Factors: Kirby’s consistent measures to reward its shareholders through share buybacks are appreciative. During 2023, Kirby repurchased 1,485,159 shares for $112.8 million. The company also repurchased 372,265 shares at an average price of $117.33 for $43.7 million in the second quarter of 2024. Such consistent shareholder-friendly moves instill investor confidence and positively impact the company's bottom line.
Kirby’s strong cash flow generating ability raises optimism about the stock. During the first half of 2024, Kirby generated $133 million of cash from operating activities compared with $56.7 million in the year-ago period. For 2024, net cash flow provided by operating activities is anticipated to be in the $600-$700 million band. This expectation is higher than the $540.2 million generated in 2023.
Other Stocks to Consider
Some other top-ranked stocks from the Zacks Transportation sector are C.H. Robinson Worldwide (CHRW - Free Report) and Wabtec Corporation (WAB - Free Report) . While C.H. Robinson sports a Zacks Rank #1, WAB presently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
CHRW has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 7.33%.
CHRW has an expected earnings growth rate of 22.42% for 2024. The Zacks Consensus Estimate for CHRW 2024 earnings has been revised 11.3% upward over the past 90 days. Shares of CHRW have gained 14.3% so far this year.
WAB has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 11.83%.
The Zacks Consensus Estimate for WAB’s 2024 earnings has been revised 3.3% upward over the past 90 days. WAB has an expected earnings growth rate of 25.34% for 2024. Shares of WAB have gained 23.5% so far this year.