Investors in Kirby Corporation (NYSE:KEX) had a good week, as its shares rose 4.9% to close at US$83.76 following the release of its full-year results. Results were roughly in line with estimates, with revenues of US$3.1b and statutory earnings per share of US$3.72. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

See our latest analysis for Kirby

Following the latest results, Kirby's five analysts are now forecasting revenues of US$3.24b in 2024. This would be a reasonable 4.8% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to surge 31% to US$4.95. Before this earnings report, the analysts had been forecasting revenues of US$3.27b and earnings per share (EPS) of US$5.02 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

There were no changes to revenue or earnings estimates or the price target of US$102, suggesting that the company has met expectations in its recent result. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic Kirby analyst has a price target of US$109 per share, while the most pessimistic values it at US$95.00. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The analysts are definitely expecting Kirby's growth to accelerate, with the forecast 4.8% annualised growth to the end of 2024 ranking favourably alongside historical growth of 0.4% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 1.7% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Kirby to grow faster than the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. The consensus price target held steady at US$102, with the latest estimates not enough to have an impact on their price targets.