World Kinect (NYSE:WKC) Announces Earnings Results

World Kinect (NYSE:WKC) issued its quarterly earnings data on Thursday. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08), Briefing.com reports. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.32%. World Kinect’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS.

World Kinect Trading Down 0.4 %

NYSE:WKC opened at $26.85 on Friday. World Kinect has a 12-month low of $17.69 and a 12-month high of $27.25. The firm has a market capitalization of $1.61 billion, a P/E ratio of 28.87, a P/E/G ratio of 0.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.97. The business has a 50 day simple moving average of $25.83 and a 200 day simple moving average of $24.84.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Monday, June 17th were given a dividend of $0.17 per share. 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 dividend payout ratio is currently 73.12%.

Insider Activity at World Kinect

In other World Kinect news, Director Ken Bakshi sold 10,936 shares of World Kinect stock in a transaction 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 sale, the director now owns 41,545 shares of the company’s stock, valued at approximately $999,988.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

WKC has been the subject of several research reports. Raymond James lifted their target price on World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus decreased their target price on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, World Kinect currently has an average 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.