World Kinect (NYSE:WKC) Earns "Sell (D+)" Rating from Weiss Ratings

Key Points

• World Kinect (NYSE:WKC) has received a "Sell (D+)" rating from Weiss Ratings, indicating caution for potential investors.
• Despite this, different analysts have varying views, with Raymond James maintaining an "outperform" rating and a price target of $33.00, while Morgan Stanley lowered their target price to $26.00.
• World Kinect reported a loss in earnings per share of $0.54, missing the consensus estimate by $0.07, and recorded a 10.5% year-over-year decline in revenue.

World Kinect (NYSE:WKC - Get Free Report)'s stock had its "sell (d+)" rating reiterated by stock analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other research firms have also issued reports on WKC. Raymond James Financial reiterated an "outperform" rating and issued a $33.00 price target (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Zacks Research upgraded shares of World Kinect from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. Finally, Morgan Stanley reduced their target price on World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.75.

World Kinect Stock Up 1.6%

NYSE WKC traded up $0.41 during trading hours on Friday, hitting $26.17. 423,662 shares of the company traded hands, compared to its average volume of 705,332. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. The business's 50-day moving average is $26.00 and its 200-day moving average is $26.57. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -3.42, a P/E/G ratio of 1.16 and a beta of 1.31. World Kinect has a twelve month low of $22.70 and a twelve month high of $31.54.

World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.07). World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%.The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.38 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The company's revenue for the quarter was down 10.5% on a year-over-year basis. Sell-side analysts anticipate that World Kinect will post 2.56 earnings per share for the current year.

Institutional Trading of World Kinect

Several large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its position in shares of World Kinect by 188.4% in the second quarter. First Horizon Advisors Inc. now owns 998 shares of the company's stock worth $28,000 after purchasing an additional 652 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in World Kinect in the 1st quarter valued at about $32,000. Quarry LP acquired a new position in shares of World Kinect in the 1st quarter valued at approximately $38,000. GAMMA Investing LLC lifted its holdings in shares of World Kinect by 27.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company's stock worth $45,000 after acquiring an additional 344 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of World Kinect during the 2nd quarter worth approximately $96,000. 97.06% of the stock is owned by institutional investors and hedge funds.

About World Kinect

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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