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

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

Kirby Stock Performance

NYSE:KEX opened at $114.76 on Friday. Kirby has a 12-month low of $72.11 and a 12-month high of $130.90. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $6.64 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17. The firm has a 50-day moving average price of $120.84 and a 200 day moving average price of $117.94.

Insider Buying and Selling

In related news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction dated 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 owns 5,280 shares of the company’s stock, valued at $668,131.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 sale, the chief operating officer now owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Amy D. Husted sold 2,853 shares of the firm’s 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 sale, the vice president now directly owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,012 shares of company stock valued at $5,571,267 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KEX shares. StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. Bank of America increased their target price on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate 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.