Kirby (NYSE:KEX) Announces Earnings Results, Beats Expectations By $0.06 EPS

Kirby (NYSE:KEX - Get Free Report) issued its quarterly earnings results on Thursday. The shipping company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.27 by $0.06, Zacks reports. The firm had revenue of $785.66 million during the quarter, compared to analyst estimates of $824.12 million. Kirby had a net margin of 8.78% and a return on equity of 9.71%. Kirby's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share.

Kirby Stock Performance

Shares of KEX opened at $104.88 on Friday. The firm has a fifty day moving average of $97.67 and a 200-day moving average of $108.77. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 0.88 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. Kirby has a 1 year low of $83.94 and a 1 year high of $132.21.

Analysts Set New Price Targets

KEX has been the topic of several recent research reports. StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Bank of America reduced their price target on Kirby from $133.00 to $123.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Stifel Nicolaus lowered their price objective on shares of Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, January 31st.

Insiders Place Their Bets

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total value of $133,866.84. Following the sale, the vice president now directly owns 5,545 shares in the company, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.