World Kinect (NYSE:WKC) Issues Quarterly Earnings Results

World Kinect (NYSE:WKC) announced its quarterly earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.08), Briefing.com reports. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a return on equity of 6.39% and a net margin of 0.12%. World Kinect’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share.

World Kinect Price Performance

WKC stock traded down $0.10 during mid-day trading on Friday, reaching $26.85. 1,007,312 shares of the company’s stock were exchanged, compared to its average volume of 540,550. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.97. World Kinect has a 12-month low of $17.69 and a 12-month high of $27.25. The stock’s 50 day moving average is $25.81 and its 200 day moving average is $24.79. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 0.86 and a beta of 1.24.

World Kinect Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Monday, June 17th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.68 dividend on an annualized basis and a yield of 2.53%. World Kinect’s payout ratio is 73.12%.

Insider Activity

In other news, Director Ken Bakshi sold 10,936 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.07, for a total transaction of $263,229.52. Following the transaction, the director now owns 41,545 shares in the company, valued at approximately $999,988.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on WKC shares. Raymond James raised their target price on World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Stifel Nicolaus lowered their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, World Kinect presently has a consensus rating of “Hold” and an average target price of $28.00.

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.