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Here's Why Investors Should Buy Kirby (KEX) Stock Right Now
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Kirby Corporation’s (KEX - Free Report) shareholder-friendly efforts and consistent earnings surprise history bolster investor confidence. Additionally, its strong cash flow generation signals promising prospects for the company. 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.
Robust Price Performance: A glimpse of the company’s price trend reveals that its shares have surged 51.1% in a year, surpassing the industry’s 8.4% growth.
Image Source: Zacks Investment Research
Solid Rank & Growth Score: KEX currently sports a Zacks Rank #1 (Strong Buy) and has a Growth Score of A. Our research shows that stocks with a Growth Score of A or B when combined with a Zacks Rank #1 or 2 (Buy) offer the best investment opportunities. Thus, the company seems to be an appropriate investment proposition at the moment.
Northward Estimate Revision: The Zacks Consensus Estimate for earnings growth has been revised upward by 32.63% over the past 90 days for the current quarter. For the current year, the consensus mark for earnings growth has moved 39.78% north in the same time frame. The favorable estimate revisions indicate brokers’ confidence in the stock.
Impressive Earnings Surprise History: KEX has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the past four quarters, delivering an average surprise of 10.26%.
Driving Factors: KEX’s bottom line is thriving, driven by commendable efforts to reward its shareholders through share buybacks.Such shareholder-friendly moves instill investor confidence and positively impact the company's bottom line. During the first quarter of 2024, Kirby repurchased 498,505 shares for $41.8 million.
Moreover, Kirby’s strong cashflow generating ability is evident as it generated $123.3 million in the first quarter of 2024 compared to $16.5 million in the same period last year. For 2024, the company anticipates operating cash flow between $600 and $700 million. Kirby consistently beat earnings expectations, with an average surprise of 10.26% over the last four quarters. This drove KEX shares up 49.4% in the past year.
Bullish Industry Rank: The industry to which KEX belongs currently has a Zacks Industry Rank of 66 (250 plus groups). Such a good rank places KEX in the top 26% of Zacks Industries. Studies show that 50% of a stock price movement is directly related to the performance of the industry group it belongs to.
A mediocre stock within a strong group is likely to outclass a robust stock in a weak industry. Therefore, reckoning the industry’s performance becomes imperative.
Air Lease has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in each of the last four quarters. The average beat is 20.15%.
The Zacks Consensus Estimate for 2024 earnings has been revised 39.62% upward over the past 90 days. AL has an expected earnings growth rate of 29.96% for 2024. AL shares have risen 32.5% in the past year.
Wabtec Corporation’s solid performance in the Freight and Transit segments is boosting its top line. The Zacks Consensus Estimate for WAB’s 2024 earnings has improved 28.37% over the past 90 days. Shares of WAB have surged 64.3% in the past year.
WAB’s earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters, delivering an average surprise of 11.46%.
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Here's Why Investors Should Buy Kirby (KEX) Stock Right Now
Kirby Corporation’s (KEX - Free Report) shareholder-friendly efforts and consistent earnings surprise history bolster investor confidence. Additionally, its strong cash flow generation signals promising prospects for the company. 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.
Robust Price Performance: A glimpse of the company’s price trend reveals that its shares have surged 51.1% in a year, surpassing the industry’s 8.4% growth.
Image Source: Zacks Investment Research
Solid Rank & Growth Score: KEX currently sports a Zacks Rank #1 (Strong Buy) and has a Growth Score of A. Our research shows that stocks with a Growth Score of A or B when combined with a Zacks Rank #1 or 2 (Buy) offer the best investment opportunities. Thus, the company seems to be an appropriate investment proposition at the moment.
Northward Estimate Revision: The Zacks Consensus Estimate for earnings growth has been revised upward by 32.63% over the past 90 days for the current quarter. For the current year, the consensus mark for earnings growth has moved 39.78% north in the same time frame. The favorable estimate revisions indicate brokers’ confidence in the stock.
Impressive Earnings Surprise History: KEX has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the past four quarters, delivering an average surprise of 10.26%.
Driving Factors: KEX’s bottom line is thriving, driven by commendable efforts to reward its shareholders through share buybacks.Such shareholder-friendly moves instill investor confidence and positively impact the company's bottom line. During the first quarter of 2024, Kirby repurchased 498,505 shares for $41.8 million.
Moreover, Kirby’s strong cashflow generating ability is evident as it generated $123.3 million in the first quarter of 2024 compared to $16.5 million in the same period last year. For 2024, the company anticipates operating cash flow between $600 and $700 million. Kirby consistently beat earnings expectations, with an average surprise of 10.26% over the last four quarters. This drove KEX shares up 49.4% in the past year.
Bullish Industry Rank: The industry to which KEX belongs currently has a Zacks Industry Rank of 66 (250 plus groups). Such a good rank places KEX in the top 26% of Zacks Industries. Studies show that 50% of a stock price movement is directly related to the performance of the industry group it belongs to.
A mediocre stock within a strong group is likely to outclass a robust stock in a weak industry. Therefore, reckoning the industry’s performance becomes imperative.
Other Stocks to Consider
Some other top-ranked stocks for investors’ consideration in the Zacks Transportation sector include Air Lease (AL - Free Report) and Wabtec Corporation (WAB - Free Report) . Each stock currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Air Lease has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in each of the last four quarters. The average beat is 20.15%.
The Zacks Consensus Estimate for 2024 earnings has been revised 39.62% upward over the past 90 days. AL has an expected earnings growth rate of 29.96% for 2024. AL shares have risen 32.5% in the past year.
Wabtec Corporation’s solid performance in the Freight and Transit segments is boosting its top line. The Zacks Consensus Estimate for WAB’s 2024 earnings has improved 28.37% over the past 90 days. Shares of WAB have surged 64.3% in the past year.
WAB’s earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters, delivering an average surprise of 11.46%.