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Should You Buy #1 (Strong Buy)-Ranked Kirby (KEX) for Your Portfolio?
Kirby was upgraded to the Zacks Rank #1 list on April 30, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Kirby Corporation is the largest domestic tank barge operator in the United States. The Houston, TX-based company is responsible for transporting bulk liquid products (including petrochemicals, black oil and refined products). The company transports bulk liquid through the Mississippi River System on the Gulf Intracoastal Waterway along all three coasts of the United States, and in Alaska and Hawaii.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.35 to $5.29 per share. KEX also boasts an average earnings surprise of 10.3%.
Earnings are expected to grow 42.2% for the current fiscal year, while revenue is projected to increase 6.2%.
Additionally, KEX has climbed higher over the past four weeks, gaining 9.3%. The S&P 500 is up 4.8% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Kirby could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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