Kirby (NYSE:KEX) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS
Kirby (NYSE:KEX) posted its quarterly earnings results on Thursday. The shipping company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.02), Briefing.com reports. The firm had revenue of $771.00 million for the quarter, compared to the consensus estimate of $767.04 million. Kirby had a return on equity of 5.50% and a net margin of 3.70%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. Kirby updated its FY19 guidance to $2.80-3.20 EPS.
KEX traded up $3.78 during trading on Friday, reaching $76.27. 754,292 shares of the company were exchanged, compared to its average volume of 507,680. The company has a 50-day simple moving average of $77.99. The stock has a market cap of $4.57 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.08 and a current ratio of 1.92. Kirby has a 12-month low of $60.63 and a 12-month high of $88.78.
KEX has been the topic of a number of recent research reports. TheStreet raised Exantas Capital from a “d+” rating to a “c” rating in a report on Thursday, May 2nd. Bank of America reissued a “buy” rating and set a $143.00 price objective on shares of Xilinx in a report on Friday, May 3rd. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Wells Fargo & Co increased their price objective on Twitter from $33.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $81.13.
Several large investors have recently added to or reduced their stakes in KEX. Carroll Financial Associates Inc. purchased a new stake in shares of Kirby in the 1st quarter valued at about $36,000. Investors Research Corp purchased a new stake in shares of Kirby in the 1st quarter valued at about $56,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Kirby in the 4th quarter valued at about $102,000. Huntington National Bank raised its holdings in shares of Kirby by 10.1% in the 2nd quarter. Huntington National Bank now owns 1,663 shares of the shipping company’s stock valued at $131,000 after acquiring an additional 152 shares in the last quarter. Finally, Callahan Advisors LLC purchased a new stake in shares of Kirby in the 2nd quarter valued at about $201,000. 95.50% of the stock is currently owned by hedge funds and other institutional investors.
Kirby Company Profile
Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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