Kirby (NYSE:KEX) Posts Earnings Results

Kirby (NYSE:KEX) announced its earnings results on Thursday. The shipping company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11, Briefing.com reports. The firm had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. Kirby had a net margin of 8.72% and a return on equity of 8.75%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 EPS.

Kirby Trading Down 3.3 %

Shares of NYSE:KEX traded down $3.72 during midday trading on Friday, reaching $109.98. 744,760 shares of the company’s stock were exchanged, compared to its average volume of 551,399. The firm’s 50 day simple moving average is $120.33 and its two-hundred day simple moving average is $103.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.81 and a quick ratio of 1.12. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 0.70 and a beta of 1.18. Kirby has a fifty-two week low of $72.11 and a fifty-two week high of $130.90.

Insider Buying and Selling at Kirby

In related news, VP Amy D. Husted sold 7,853 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $122.50, for a total transaction of $961,992.50. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at $646,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Amy D. Husted sold 7,853 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $122.50, for a total transaction of $961,992.50. Following the transaction, the vice president now directly owns 5,280 shares in the company, valued at $646,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David W. Grzebinski sold 3,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the sale, the chief executive officer now owns 63,399 shares of the company’s stock, valued at approximately $7,627,533.69. The disclosure for this sale can be found here. Insiders sold a total of 28,893 shares of company stock valued at $3,412,856 in the last three months. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KEX shares. Wolfe Research initiated coverage on shares of Kirby in a report on Monday, April 22nd. They issued an “outperform” rating and a $126.00 price target for the company. Bank of America boosted their price target on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus upped their price objective on shares of Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kirby currently has an average rating of “Buy” and an average price target of $123.80.

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.