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

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

Kirby Trading Down 0.1 %

KEX stock traded down $0.16 during midday trading on Friday, reaching $112.00. The company’s stock had a trading volume of 783,584 shares, compared to its average volume of 417,887. Kirby has a 52 week low of $67.07 and a 52 week high of $114.35. The stock has a market cap of $6.55 billion, a PE ratio of 29.95, a price-to-earnings-growth 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. The business’s 50-day simple moving average is $92.72 and its 200-day simple moving average is $83.56.

Insider Buying and Selling at Kirby

In other Kirby news, CEO David W. Grzebinski sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.72, for a total value of $593,040.00. Following the transaction, the chief executive officer now directly owns 84,399 shares of the company’s stock, valued at $7,150,283.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Scott P. Miller sold 487 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the sale, the vice president now directly owns 1,000 shares in the company, valued at $99,780. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David W. Grzebinski sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.72, for a total transaction of $593,040.00. Following the sale, the chief executive officer now owns 84,399 shares in the company, valued at $7,150,283.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,418 shares of company stock valued at $4,932,521. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

KEX has been the subject of several recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Kirby in a report on Monday, February 5th. Wolfe Research initiated coverage on shares of Kirby in a report on Monday. They set an “outperform” rating and a $126.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Kirby from $100.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, April 19th. BTIG Research increased their price target on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $116.00.

About Kirby

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.