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

Kirby (NYSE:KEX) issued its quarterly earnings data on Wednesday. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $824.42 million. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 earnings per share.

Kirby Stock Down 0.2 %

Shares of NYSE KEX traded down $0.24 during mid-day trading on Thursday, hitting $115.35. The company had a trading volume of 333,985 shares, compared to its average volume of 456,489. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $120.88 and a two-hundred day simple moving average of $117.96. The company has a market capitalization of $6.68 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. Kirby has a one year low of $72.11 and a one year high of $130.90.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. Bank of America lifted their target price on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kirby has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Insider Buying and Selling

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

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.