World Kinect Corporation (NYSE:WKC) Receives Average Rating of “Reduce” from Brokerages

Shares of World Kinect Corporation (NYSE:WKC) have been assigned a consensus rating of “Reduce” from the six research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $28.75.

Several research analysts have issued reports on WKC shares. Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of World Kinect in a research note on Monday, December 8th.

World Kinect Trading Down 3.3%

NYSE:WKC opened at $23.67 on Wednesday. The company has a market cap of $1.32 billion, a PE ratio of -3.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.15. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $24.72 and a two-hundred day simple moving average of $26.29. World Kinect has a 12 month low of $22.70 and a 12 month high of $31.54.

World Kinect (NYSE:WKC) last released its quarterly earnings results 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 7.11% and a negative net margin of 1.16%.The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same quarter last year, the business earned $0.62 earnings per share. The business’s quarterly revenue was down 10.5% on a year-over-year basis. Research analysts forecast that World Kinect will post 2.56 earnings per share for the current year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Monday, December 15th will be given a $0.20 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.80 annualized dividend and a yield of 3.4%. World Kinect’s dividend payout ratio (DPR) is presently -10.34%.

Institutional Investors Weigh In On World Kinect

A number of hedge funds have recently modified their holdings of WKC. First Horizon Advisors Inc. lifted its position in World Kinect by 188.4% during the second quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of World Kinect in the first quarter worth about $32,000. Clearstead Advisors LLC lifted its position in shares of World Kinect by 52.8% during the 3rd quarter. Clearstead Advisors LLC now owns 1,261 shares of the company’s stock valued at $33,000 after buying an additional 436 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of World Kinect by 282.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,286 shares of the company’s stock valued at $33,000 after acquiring an additional 950 shares during the period. Finally, Quarry LP bought a new position in shares of World Kinect during the 1st quarter valued at approximately $38,000. Institutional investors own 97.06% of the company’s stock.

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.