World Kinect Corporation (NYSE:WKC) Receives Consensus Rating of "Hold" from Analysts

Key Points

• World Kinect Corporation has received a consensus rating of "Hold" from six analysts, with three sell ratings and one strong buy rating among them.
• The company recently reported earnings of $0.59 per share, exceeding analyst expectations of $0.48, but fell short on revenue with $9.04 billion against an expectation of $9.32 billion.
• World Kinect declared a quarterly dividend of $0.20 per share to be paid on October 16th, with an annualized yield of 3.1%.

Shares of World Kinect Corporation (NYSE:WKC - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $28.75.

A number of research analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Raymond James Financial reissued an "outperform" rating and set a $33.00 target price (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of World Kinect in a report on Saturday, September 27th. Finally, Zacks Research raised shares of World Kinect from a "hold" rating to a "strong-buy" rating in a report on Monday.

World Kinect Stock Performance

WKC stock traded up $0.03 during trading hours on Friday, reaching $26.10. The stock had a trading volume of 474,220 shares, compared to its average volume of 947,875. The stock has a 50-day simple moving average of $26.20 and a 200 day simple moving average of $26.80. The stock has a market capitalization of $1.45 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.18 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98. World Kinect has a fifty-two week low of $22.70 and a fifty-two week high of $31.64.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.11. The company had revenue of $9.04 billion during the quarter, compared to analysts' expectations of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. Analysts predict that World Kinect will post 2.56 EPS for the current fiscal year.

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 30th. World Kinect's payout ratio is -10.48%.

Institutional Investors Weigh In On World Kinect

A number of institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its position in shares of World Kinect by 188.4% during the second quarter. First Horizon Advisors Inc. now owns 998 shares of the company's stock worth $28,000 after buying an additional 652 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in World Kinect during the first quarter valued at $32,000. Quarry LP bought a new stake in World Kinect during the first quarter valued at $38,000. GAMMA Investing LLC boosted its position in World Kinect by 27.6% during the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company's stock valued at $45,000 after acquiring an additional 344 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of World Kinect in the 2nd quarter valued at about $96,000. Institutional investors own 97.06% of the company's stock.

World Kinect Company Profile

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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