Kirby (NYSE:KEX) Releases Quarterly Earnings Results

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

Kirby Trading Down 0.1 %

Shares of Kirby stock traded down $0.16 during trading hours on Friday, hitting $112.00. The company’s stock had a trading volume of 783,584 shares, compared to its average volume of 416,453. Kirby has a 1-year low of $67.07 and a 1-year high of $114.35. The business has a fifty day moving average of $92.72 and a 200 day moving average of $83.56. The company has a market capitalization of $6.55 billion, a PE ratio of 29.95, a P/E/G ratio of 1.70 and a beta of 1.21. The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.32.

Analyst Ratings Changes

Several analysts have issued reports on KEX shares. Stifel Nicolaus upped their price target on shares of Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a report on Friday, April 19th. BTIG Research boosted their price objective on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Stephens reissued an “overweight” rating and issued a $105.00 price objective on shares of Kirby in a research report on Monday, February 5th. Finally, Wolfe Research assumed coverage on shares of Kirby in a research report on Monday. They issued an “outperform” rating and a $126.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $116.00.

Insider Transactions at Kirby

In other Kirby news, CEO David W. Grzebinski sold 18,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $85.44, for a total transaction of $1,537,920.00. Following the transaction, the chief executive officer now directly owns 66,399 shares in the company, valued at approximately $5,673,130.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Christian G. O’neil sold 8,994 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $85.15, for a total value of $765,839.10. Following the sale, the insider now owns 16,079 shares of the company’s stock, valued at approximately $1,369,126.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Grzebinski sold 18,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $85.44, for a total transaction of $1,537,920.00. Following the transaction, the chief executive officer now directly owns 66,399 shares in the company, valued at approximately $5,673,130.56. The disclosure for this sale can be found here. Insiders sold 56,418 shares of company stock valued at $4,932,521 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

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.