Kirby (NYSE:KEX) Announces 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 for the quarter, topping the consensus estimate of $1.47 by $0.08, Briefing.com reports. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The business had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s revenue was up 8.7% on a year-over-year basis.

Kirby Price Performance

Shares of Kirby stock traded down $0.24 during trading on Thursday, reaching $115.35. 333,985 shares of the company’s stock were exchanged, compared to its average volume of 456,489. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.70. Kirby has a 1-year low of $72.11 and a 1-year high of $130.90. The company has a market cap of $6.68 billion, a P/E ratio of 24.52, a PEG ratio of 0.75 and a beta of 1.17. The firm’s 50-day moving average price is $120.88 and its 200 day moving average price is $117.96.

Insider Activity at Kirby

In related news, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,637,043.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Christian G. O’neil sold 14,031 shares of Kirby stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $123.29, for a total transaction of $1,729,881.99. Following the sale, the chief operating officer now directly owns 12,746 shares of the company’s stock, valued at approximately $1,571,454.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the sale, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,012 shares of company stock valued at $5,571,267 over the last ninety days. 1.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America increased their price target on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.80.

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.