Kirby Corporation (KEX) Releases Earnings Results, Beats Expectations By $0.02 EPS

Kirby Corporation (KEX) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.72 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.70. The company posted revenue of $441.58 million in the period, compared to analysts expectations of $454.76 million. The company’s revenue was down -18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Kirby Corporation. Kirby Corporation was Downgraded by Wells Fargo to ” Underperform” on Jul 25, 2016. Kirby Corporation was Downgraded by Credit Suisse to ” Neutral” on Jun 21, 2016. BB&T Capital Mkts Upgraded Kirby Corporation on May 2, 2016 to ” Buy”, Price Target of the shares are set at $80.

Kirby Corporation closed down -4.7 points or -7.98% at $54.17 with 32,08,559 shares getting traded on Thursday. Post opening the session at $53.31, the shares hit an intraday low of $52.9001 and an intraday high of $55.02 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jun 1, 2016, Monte J Miller (director) sold 3,000 shares at $69.31 per share price. According to the SEC, on May 18, 2016, Amy D. Husted (Vice President – Legal) sold 500 shares at $69.25 per share price. On May 11, 2016, James F. Farley (VP – Industry Relations) sold 1,500 shares at $63.73 per share price, according to the Form-4 filing with the securities and exchange commission.

Kirby Corporation is the domestic tank barge operator transporting bulk liquid products. The Company through its subsidiaries operates in two segments: Marine Transportation and Diesel Engine Services. The Marine Transportation segment is a provider of marine transportation services operating tank barges and towing vessels transporting bulk liquid products. The Diesel Engine Services segment sells replacement parts provides service mechanics to overhaul and repair medium-speed and high-speed diesel engines transmissions reduction gears pumps and compression products maintains facilities to rebuild component parts or entire medium-speed and high-speed diesel engines transmissions and entire reduction gears and manufactures and remanufactures oilfield service equipment including pressure pumping units. Its customers include oil service companies offshore fishing companies nuclear power industry compression companies and construction companies among others.

Kirby Corporation

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