World Kinect Co. (NYSE:WKC - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $24.69, but opened at $22.09. World Kinect shares last traded at $21.85, with a volume of 212,652 shares.
Wall Street Analyst Weigh In
A number of research firms recently commented on WKC. Raymond James raised their price target on shares of World Kinect from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. began coverage on shares of World Kinect in a research report on Wednesday, February 21st. They set a "neutral" rating and a $25.00 price target on the stock. Finally, Bank of America raised their price target on shares of World Kinect from $23.00 to $26.00 and gave the stock an "underperform" rating in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.75.
Check Out Our Latest Stock Analysis on World Kinect
World Kinect Trading Down 6.8 %
The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.11. The stock has a market capitalization of $1.38 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. The firm's fifty day simple moving average is $25.13 and its 200 day simple moving average is $22.84.
World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.04. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.23 billion. World Kinect had a net margin of 0.11% and a return on equity of 6.07%. During the same period in the previous year, the firm posted $0.54 EPS. As a group, equities research analysts forecast that World Kinect Co. will post 2.26 EPS for the current fiscal year.
World Kinect Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, March 25th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 22nd. This is a positive change from World Kinect's previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a dividend yield of 2.96%. World Kinect's payout ratio is 80.95%.
Insider Activity at World Kinect
In related news, Director Paul H. Stebbins sold 20,000 shares of World Kinect stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $24.37, for a total transaction of $487,400.00. Following the sale, the director now directly owns 75,375 shares in the company, valued at approximately $1,836,888.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by insiders.
Institutional Investors Weigh In On World Kinect
Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of World Kinect in the 4th quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of World Kinect in the 4th quarter worth approximately $32,000. Allworth Financial LP acquired a new position in shares of World Kinect in the 4th quarter worth approximately $35,000. Parkside Financial Bank & Trust acquired a new position in shares of World Kinect in the 4th quarter worth approximately $45,000. Finally, Assetmark Inc. acquired a new position in shares of World Kinect in the 4th quarter worth approximately $96,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.
World Kinect Company Profile
(
Get Free Report)
World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.
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