Kirby (NYSE:KEX) Issues Quarterly Earnings Results

Kirby (NYSE:KEX) released its earnings results on Friday. The shipping company reported $1.19 earnings per share for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share.

Kirby Stock Down 0.1 %

Shares of NYSE KEX opened at $112.00 on Friday. Kirby has a 1 year low of $67.07 and a 1 year high of $114.35. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 1.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.01. The business has a 50-day moving average of $93.25 and a two-hundred day moving average of $83.78.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KEX. Stifel Nicolaus boosted their price objective on Kirby from $100.00 to $118.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. BTIG Research increased their price objective on shares of Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Stephens reiterated an “overweight” rating and issued a $105.00 price objective on shares of Kirby in a research note on Monday, February 5th. Finally, Wolfe Research initiated coverage on shares of Kirby in a research note on Monday, April 22nd. They set an “outperform” rating and a $126.00 target price on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kirby has a consensus rating of “Buy” and an average target price of $116.00.

Insider Transactions at Kirby

In related news, VP Scott P. Miller sold 1,828 shares of the 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 of the company’s stock, valued at approximately $79,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Scott P. Miller sold 1,828 shares of the company’s 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 completion of the sale, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $79,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Scott P. Miller sold 487 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $99.78, for a total value of $48,592.86. Following the transaction, the vice president now owns 1,000 shares in the company, valued at approximately $99,780. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,418 shares of company stock valued at $4,932,521. Corporate insiders own 1.50% of the company’s stock.

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.