World Kinect (NYSE:WKC) Downgraded by Stifel Nicolaus

Stifel Nicolaus downgraded shares of World Kinect (NYSE:WKC) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. They currently have $32.00 target price on the stock, down from their prior target price of $33.00.

Other analysts have also issued reports about the stock. Bank of America boosted their target price on shares of World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday, September 13th. Morgan Stanley downgraded World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price objective on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.20.

World Kinect Stock Down 15.8 %

Shares of WKC opened at $26.40 on Friday. The firm has a market capitalization of $1.56 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.08 and a beta of 1.25. World Kinect has a 12-month low of $17.69 and a 12-month high of $31.70. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $29.63 and a 200-day moving average price of $27.04.

World Kinect (NYSE:WKC) last issued its earnings results on Thursday, October 24th. The company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.62. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $11.77 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The business’s revenue was down 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share. Equities research analysts expect that World Kinect will post 2.15 earnings per share for the current year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.58%. World Kinect’s payout ratio is currently 30.09%.

World Kinect announced that its board has authorized a stock repurchase plan on Monday, September 9th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 11% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other World Kinect news, Director John L. Manley sold 16,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the transaction, the director now directly owns 49,614 shares in the company, valued at approximately $1,403,083.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On World Kinect

Hedge funds have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of World Kinect during the second quarter valued at about $65,000. PNC Financial Services Group Inc. acquired a new position in shares of World Kinect during the fourth quarter valued at about $148,000. Everence Capital Management Inc. purchased a new stake in World Kinect in the third quarter valued at approximately $210,000. Point72 Asia Singapore Pte. Ltd. boosted its position in World Kinect by 20.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock valued at $179,000 after buying an additional 1,189 shares during the last quarter. Finally, Highland Capital Management LLC purchased a new stake in World Kinect in the third quarter valued at approximately $253,000. Institutional investors and hedge funds 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.