World Kinect (NYSE:WKC) Issues Earnings Results, Misses Expectations By $0.07 EPS

Key Points

• World Kinect (NYSE:WKC) reported quarterly earnings of $0.54 per share, falling short of analysts' expectations by $0.07, with a return on equity of 7.07% and a net margin of -1.11%.
• The company announced a quarterly dividend of $0.20, resulting in an annualized yield of 3.1%, despite a low payout ratio of -10.48%.
• Analysts have mixed ratings on World Kinect, with a majority giving a "Hold" rating, while target prices range from $26.00 to $33.00 per share following recent adjustments.

World Kinect (NYSE:WKC - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.07), Zacks reports. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%.

World Kinect Trading Up 0.5%

NYSE:WKC traded up $0.12 during trading hours on Thursday, hitting $25.70. The company had a trading volume of 660,831 shares, compared to its average volume of 706,137. The company has a market capitalization of $1.43 billion, a PE ratio of -3.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.31. The stock has a 50-day moving average price of $26.00 and a 200 day moving average price of $26.56. World Kinect has a 52 week low of $22.70 and a 52 week high of $31.54. 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 Announces Dividend

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

Hedge Funds Weigh In On World Kinect

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in World Kinect during the 2nd quarter valued at about $96,000. Tower Research Capital LLC TRC lifted its stake in World Kinect by 72.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,021 shares of the company's stock valued at $171,000 after acquiring an additional 2,534 shares during the period. Corient Private Wealth LLC bought a new position in World Kinect during the 2nd quarter valued at about $214,000. Tidal Investments LLC bought a new position in World Kinect during the 2nd quarter valued at about $226,000. Finally, Creative Planning bought a new position in World Kinect during the 2nd quarter valued at about $269,000. Institutional investors own 97.06% of the company's stock.

Wall Street Analyst Weigh In

WKC has been the topic of several analyst reports. Morgan Stanley decreased their target price on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $33.00 target price (down 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 research note on Wednesday, October 8th. Finally, Zacks Research raised shares of World Kinect from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $28.75.

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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