Kirby (NYSE:KEX) Issues Earnings Results

Kirby (NYSE:KEX) issued its quarterly earnings data on Friday. The shipping company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.22, Briefing.com reports. Kirby had a return on equity of 8.00% and a net margin of 8.01%. The business had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $784.49 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis.

Kirby Price Performance

NYSE:KEX traded down $0.16 during trading hours on Friday, hitting $112.00. The company’s stock 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 PE ratio of 26.48, a PEG ratio of 1.88 and a beta of 1.21. Kirby has a 52-week low of $67.07 and a 52-week high of $114.35. The business’s 50-day moving average is $93.25 and its two-hundred day moving average is $83.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68.

Insider Transactions at Kirby

In other Kirby news, VP Scott P. Miller sold 487 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the transaction, the vice president now directly owns 1,000 shares in the company, valued at $99,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Kirby news, CEO David W. Grzebinski sold 18,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $85.44, for a total transaction of $1,537,920.00. Following the sale, the chief executive officer now owns 66,399 shares in the company, valued at approximately $5,673,130.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott P. Miller sold 487 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the completion of the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $99,780. 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 in the last ninety days. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KEX has been the topic of several research reports. Stephens reissued an “overweight” rating and set a $105.00 price target on shares of Kirby in a research report on Monday, February 5th. BTIG Research boosted their target price 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 raised their price objective on shares of Kirby from $100.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, April 19th. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Finally, Wolfe Research started coverage on Kirby in a report on Monday, April 22nd. They set an “outperform” rating and a $126.00 price objective on the stock. 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 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.