Kirby (NYSE:KEX) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Kirby (NYSE:KEX) released its earnings results on Thursday. The shipping company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.22, Briefing.com reports. Kirby had a return on equity of 7.12% and a net margin of 7.21%. The business had revenue of $808.00 million for the quarter, compared to the consensus estimate of $784.49 million. During the same quarter last year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year.

Kirby Trading Down 0.1 %

Shares of NYSE KEX traded down $0.16 during trading on Friday, reaching $112.00. The stock had a trading volume of 783,584 shares, compared to its average volume of 417,887. Kirby has a fifty-two week low of $67.07 and a fifty-two week high of $114.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68. The business’s 50-day moving average price is $92.72 and its 200-day moving average price is $83.56. The company has a market cap of $6.55 billion, a P/E ratio of 29.95, a PEG ratio of 1.70 and a beta of 1.21.

Insider Activity

In related news, VP Scott P. Miller sold 487 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $99.78, for a total transaction of $48,592.86. Following the completion of the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $99,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kirby news, CEO David W. Grzebinski sold 18,000 shares of Kirby stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $85.44, for a total transaction of $1,537,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,399 shares of the company’s stock, valued at approximately $5,673,130.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott P. Miller sold 487 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $99.78, for a total value of $48,592.86. Following the completion of the sale, the vice president now directly owns 1,000 shares of the company’s stock, valued at $99,780. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,418 shares of company stock valued at $4,932,521. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. BTIG Research lifted their price objective on Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. StockNews.com raised Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Stephens reissued an “overweight” rating and set a $105.00 target price on shares of Kirby in a research note on Monday, February 5th. Wolfe Research began coverage on Kirby in a research note on Monday. They set an “outperform” rating and a $126.00 target price for the company. Finally, Stifel Nicolaus lifted their price objective on Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kirby currently has a consensus rating of “Buy” and an average price target of $116.00.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.