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

Kirby (NYSE:KEX - Get Free Report) posted its quarterly earnings data on Thursday. The shipping company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.22, Briefing.com reports. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $784.49 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year.

Kirby Stock Performance

Kirby stock traded down $0.10 during mid-day trading on Friday, hitting $112.06. The company had a trading volume of 783,584 shares, compared to its average volume of 417,887. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. Kirby has a 12-month low of $67.07 and a 12-month high of $114.35. The company's fifty day moving average is $93.25 and its 200-day moving average is $83.77. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 1.70 and a beta of 1.21.

Wall Street Analysts Forecast Growth

KEX has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of Kirby in a report on Monday. They set an "outperform" rating and a $126.00 price objective on the stock. BTIG Research increased their price target on shares of Kirby from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, April 3rd. StockNews.com upgraded shares of Kirby from a "hold" rating to a "buy" rating in a report on Tuesday, April 16th. Stifel Nicolaus increased their price target on shares of Kirby from $100.00 to $118.00 and gave the stock a "buy" rating in a report on Friday, April 19th. Finally, Stephens reiterated an "overweight" rating and issued a $105.00 price target on shares of Kirby in a report on Monday, February 5th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $116.00.

Insiders Place Their Bets

In other Kirby news, CEO David W. Grzebinski sold 18,000 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $85.44, for a total value of $1,537,920.00. Following the sale, the chief executive officer now owns 66,399 shares in the company, valued at approximately $5,673,130.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Kirby news, CEO David W. Grzebinski sold 18,000 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $85.44, for a total value of $1,537,920.00. Following the sale, the chief executive officer now owns 66,399 shares in the company, valued at approximately $5,673,130.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Scott P. Miller sold 1,828 shares of the company's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $79.60, for a total value of $145,508.80. Following the completion of the sale, the vice president now owns 1,000 shares in the company, valued at approximately $79,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,418 shares of company stock worth $4,932,521. 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.