Kirby (NYSE:KEX) Issues Earnings Results, Beats Estimates By $0.22 EPS

Kirby (NYSE:KEX) announced its earnings results on Friday. The shipping company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.22, Briefing.com reports. The business had revenue of $808.00 million during the quarter, compared to analyst estimates of $784.49 million. Kirby had a net margin of 8.01% and a return on equity of 8.00%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS.

Kirby Trading Down 0.1 %

Shares of KEX stock opened at $112.00 on Monday. Kirby has a 1 year low of $67.07 and a 1 year high of $114.35. The firm has a fifty day moving average price of $93.25 and a 200-day moving average price of $83.79. 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 company has a market cap of $6.55 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.84 and a beta of 1.21.

Analysts Set New Price Targets

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

Insider Activity

In other news, VP Scott P. Miller sold 487 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the completion of the sale, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $99,780. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Scott P. Miller sold 487 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the completion of the sale, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $99,780. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Scott P. Miller sold 6,705 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $95.05, for a total transaction of $637,310.25. Following the completion of the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $95,050. The disclosure for this sale can be found here. Insiders sold a total of 54,590 shares of company stock valued at $4,787,013 in the last 90 days. Company insiders own 1.40% 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.