Kirby may see 2017 earnings fall some 30% as its customers keep pressuring rates lower, Seaport Global Securities said in a research report.
Seaport analyst Kevin Sterling, who initiated coverage on the New York-listed tank barge operator, forecast 2017 earnings per share of $1.80, which is well below the $2.31 consensus forecast for the company's earnings this year.
The David Grzebinski-led Kirby owns a fleet of 68 coastal tank barges, along with 881 inland tank barges, making it overall the largest US-based barge operator.
