Jefferies Cuts Numbers on Kirby (KEX) After Warning

Jefferies cuts its price target and estimates on Kirby Corporation (NYSE: KEX) after the comapny lowered its 2012 EPS guidance by $0.35-$0.40 to $3.45-$3.70.

"After digging into the details, we estimate approximately one-half of the reduction is due to either one-off charges or events that transpired in 1Q or 2Q," the analyst said.

The price target moves from $77 to $70.

Q2 EPS goes from $1.00 to $0.83, FY12 EPS goes from $4.00 to $3.55 and FY13 goes from $4.40 to $3.90.

For an analyst ratings summary and ratings history on Kirby Corporation click here. For more ratings news on Kirby Corporation click here.

Shares of Kirby Corporation closed at $51.10 yesterday.

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