Kirby (NYSE:KEX) Announces Earnings Results

Kirby (NYSE:KEX) issued its quarterly earnings results on Friday. 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 business had revenue of $808.00 million for the quarter, compared to the consensus estimate of $784.49 million. Kirby had a return on equity of 8.00% and a net margin of 8.01%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share.

Kirby Price Performance

Kirby stock traded down $0.16 during midday trading on Friday, reaching $112.00. The company had a trading volume of 783,584 shares, compared to its average volume of 469,587. The company has a market capitalization of $6.55 billion, a P/E ratio of 26.48, a P/E/G ratio of 1.88 and a beta of 1.21. Kirby has a 12-month low of $67.07 and a 12-month high of $114.35. The firm’s fifty day simple moving average is $93.25 and its 200-day simple moving average is $83.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.01.

Insider Activity at Kirby

In related news, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction on Monday, January 29th. The shares were sold at an average price of $79.60, for a total transaction of $145,508.80. Following the sale, the vice president now directly owns 1,000 shares in the company, valued at approximately $79,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Kirby news, VP Scott P. Miller sold 1,828 shares of Kirby 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 in the company, valued at $79,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Ronald A. Dragg sold 1,413 shares of Kirby 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 owns 10,651 shares in the company, valued at $901,926.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,418 shares of company stock valued at $4,932,521. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Kirby from $100.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. BTIG Research upped their price target on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Wolfe Research assumed coverage on shares of Kirby in a report on Monday, April 22nd. They issued an “outperform” rating and a $126.00 price target on the stock. Stephens reissued an “overweight” rating and set a $105.00 target price on shares of Kirby in a research note on Monday, February 5th. Finally, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Kirby currently has an average rating of “Buy” and an average price target 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.