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

Kirby (NYSE:KEX) issued its quarterly earnings data 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. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.68 EPS.

Kirby Stock Up 0.2 %

Shares of NYSE:KEX traded up $0.25 during trading on Friday, hitting $112.41. 546,765 shares of the company were exchanged, compared to its average volume of 414,353. The stock has a market capitalization of $6.58 billion, a P/E ratio of 29.95, a PEG ratio of 1.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.01. Kirby has a 12-month low of $67.07 and a 12-month high of $114.35. The firm’s 50 day moving average price is $92.72 and its 200-day moving average price is $83.56.

Insider Activity at Kirby

In related news, VP Scott P. Miller sold 1,828 shares of the company’s stock in a transaction on Monday, January 29th. The shares were 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 in the company, valued at approximately $79,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Kirby news, VP Scott P. Miller sold 1,828 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $79.60, for a total value of $145,508.80. Following the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $79,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ronald A. Dragg sold 1,413 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $84.68, for a total transaction of $119,652.84. Following the completion of the transaction, the vice president now directly owns 10,651 shares in the company, valued at $901,926.68. The disclosure for this sale can be found here. Insiders sold a total of 56,418 shares of company stock worth $4,932,521 in the last 90 days. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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