Kirby (NYSE:KEX) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Kirby (NYSE:KEX) released its earnings results on Thursday. The shipping company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01), Zacks reports. Kirby had a return on equity of 9.43% and a net margin of 9.37%.

Kirby Stock Up 8.3 %

NYSE:KEX traded up $8.89 on Thursday, hitting $115.45. The stock had a trading volume of 601,654 shares, compared to its average volume of 680,318. The business’s fifty day moving average is $112.70 and its 200 day moving average is $117.98. The company has a market cap of $6.63 billion, a PE ratio of 22.08, a P/E/G ratio of 0.55 and a beta of 1.21. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. Kirby has a 52 week low of $78.63 and a 52 week high of $132.21.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.80.

Insiders Place Their Bets

In other news, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the transaction, the vice president now owns 7,683 shares in the company, valued at $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Christian G. O’neil sold 15,041 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the completion of the transaction, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. This represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,354 shares of company stock worth $3,275,455. 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.