Kirby (NYSE:KEX) Announces Earnings Results, Beats Expectations By $0.22 EPS

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

Kirby Stock Performance

Shares of NYSE:KEX traded up $0.25 during midday trading on Friday, reaching $112.41. 546,765 shares of the company’s stock traded hands, compared to its average volume of 414,353. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 1.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68. Kirby has a one year low of $67.07 and a one year high of $114.35. The stock has a 50 day moving average of $92.72 and a 200 day moving average of $83.56.

Analysts Set New Price Targets

Several research firms have recently issued reports on KEX. Wolfe Research began coverage on Kirby in a research note on Monday. They set an “outperform” rating and a $126.00 target price on the stock. BTIG Research upped their price target on Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus upped their price target on Kirby from $100.00 to $118.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Stephens reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Kirby in a research note on Monday, February 5th. Finally, StockNews.com raised 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, Kirby presently has a consensus rating of “Buy” and a consensus price target of $116.00.

Insider Activity

In other news, VP Scott P. Miller sold 1,828 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $79.60, for a total transaction of $145,508.80. Following the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at $79,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Kirby news, VP Scott P. Miller sold 1,828 shares of the 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 transaction, the vice president now owns 1,000 shares of the company’s stock, valued at $79,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott P. Miller sold 6,705 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $95.05, for a total value of $637,310.25. Following the completion of the transaction, the vice president now directly owns 1,000 shares in the company, valued at approximately $95,050. The disclosure for this sale can be found here. Insiders have sold a total of 56,418 shares of company stock valued at $4,932,521 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

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.