World Kinect (NYSE:WKC) Sets New 12-Month High - Here's Why

Key Points

• World Kinect (NYSE:WKC) hit a new 52-week high, trading as high as $29.92 and last around $29.83, extending recent strength in the stock.
• The company reported better-than-expected quarterly results, with EPS of $0.75 versus estimates of $0.31 and revenue of $9.69 billion versus $9.29 billion expected.
• Despite the rally, Wall Street remains cautious: the consensus rating is "Reduce" with a price target of $29.50, while insiders have also been selling shares in recent months.

World Kinect Corporation (NYSE:WKC - Get Free Report)'s share price reached a new 52-week high on Friday . The company traded as high as $29.92 and last traded at $29.8260, with a volume of 135508 shares traded. The stock had previously closed at $29.73.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research lowered shares of World Kinect from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Wall Street Zen raised shares of World Kinect from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Weiss Ratings raised shares of World Kinect from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 14th. Finally, Morgan Stanley raised their target price on shares of World Kinect from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, World Kinect presently has a consensus rating of "Reduce" and a consensus price target of $29.50.

World Kinect Trading Up 0.6%

The company has a market capitalization of $1.54 billion, a PE ratio of -2.93, a price-to-earnings-growth ratio of 0.60 and a beta of 1.22. The company's fifty day moving average is $26.06 and its 200-day moving average is $25.32. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.05 and a quick ratio of 0.87.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.44. The company had revenue of $9.69 billion for the quarter, compared to analyst estimates of $9.29 billion. World Kinect had a negative net margin of 1.53% and a positive return on equity of 8.27%. World Kinect's revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. On average, analysts anticipate that World Kinect Corporation will post 2.79 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Monday, March 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, March 30th. World Kinect's dividend payout ratio (DPR) is -7.84%.

Insider Activity

In other World Kinect news, CAO Michael John Kroll sold 2,100 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $27.30, for a total value of $57,330.00. Following the completion of the sale, the chief accounting officer directly owned 10,390 shares in the company, valued at $283,647. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael J. Kasbar sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $29.15, for a total transaction of $291,500.00. Following the completion of the sale, the chairman owned 1,041,450 shares of the company's stock, valued at approximately $30,358,267.50. This trade represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 77,928 shares of company stock valued at $2,169,984 in the last ninety days. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On World Kinect

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in shares of World Kinect by 373.8% during the third quarter. Millennium Management LLC now owns 1,602,996 shares of the company's stock worth $41,598,000 after buying an additional 1,264,684 shares during the period. Brandes Investment Partners LP lifted its stake in shares of World Kinect by 30.9% during the fourth quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company's stock worth $90,106,000 after buying an additional 907,490 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of World Kinect by 235.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company's stock worth $14,879,000 after buying an additional 452,462 shares during the period. American Century Companies Inc. lifted its stake in shares of World Kinect by 64.1% during the third quarter. American Century Companies Inc. now owns 1,042,766 shares of the company's stock worth $27,060,000 after buying an additional 407,225 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in shares of World Kinect during the fourth quarter worth $9,427,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

About World Kinect

World Kinect Energy Services, Inc NYSE: WKC is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.

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