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

Kirby (NYSE:KEX) issued its earnings results on Thursday. The shipping company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $784.49 million. During the same period last year, the business earned $0.68 EPS. Kirby’s quarterly revenue was up 7.7% compared to the same quarter last year.

Kirby Stock Performance

Shares of Kirby stock traded down $0.16 during trading hours on Friday, hitting $112.00. 783,584 shares of the company’s stock traded hands, compared to its average volume of 416,453. Kirby has a 12-month low of $67.07 and a 12-month high of $114.35. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 1.70 and a beta of 1.21. The company has a fifty day simple moving average of $92.72 and a 200-day simple moving average of $83.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.01.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KEX. Wolfe Research began coverage on Kirby in a report on Monday. They issued an “outperform” rating and a $126.00 target price on the stock. Stifel Nicolaus raised 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. Stephens restated an “overweight” rating and set a $105.00 price objective on shares of Kirby in a research note on Monday, February 5th. BTIG Research raised their price objective on 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 upgraded 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 MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $116.00.

Insider Activity

In related news, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $79.60, for a total value of $145,508.80. Following the completion of the sale, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $79,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Kirby news, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $79.60, for a total transaction of $145,508.80. Following the completion of the transaction, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $79,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christian G. O’neil sold 8,994 shares of Kirby 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 transaction, the insider now directly owns 16,079 shares of the company’s stock, valued at approximately $1,369,126.85. The disclosure for this sale can be found here. Insiders sold a total of 56,418 shares of company stock valued at $4,932,521 in the last ninety days. 1.50% of the stock is currently owned by insiders.

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.