Kirby (NYSE:KEX) Releases Earnings Results, Beats Estimates By $0.08 EPS

Kirby (NYSE:KEX) released its earnings results on Wednesday. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.08, Briefing.com reports. The company had revenue of $831.10 million during the quarter, compared to analyst estimates of $824.42 million. Kirby had a return on equity of 9.49% and a net margin of 9.37%. Kirby’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share.

Kirby Trading Down 0.4 %

Shares of KEX opened at $114.30 on Friday. The firm has a market cap of $6.62 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17. Kirby has a fifty-two week low of $72.11 and a fifty-two week high of $130.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.70. The business has a 50-day moving average of $120.75 and a 200 day moving average of $118.06.

Insiders Place Their Bets

In related news, COO Christian G. O’neil sold 2,770 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the sale, the chief operating officer now directly owns 16,079 shares in the company, valued at approximately $1,772,066.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the sale, the vice president now directly owns 5,280 shares in the company, valued at $668,131.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the completion of the transaction, the chief operating officer now owns 16,079 shares of the company’s stock, valued at $1,772,066.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,012 shares of company stock worth $5,571,267 over the last quarter. 1.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on KEX shares. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. Bank of America increased 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kirby presently has an average rating of “Moderate Buy” and an average target price 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.