World Fuel Services Corp. (INT) Trading Down 5%
World Fuel Services Corp. (NYSE:INT) shares traded down 5% on Thursday . The stock traded as low as $45.25 and last traded at $45.31, with a volume of 637,035 shares traded. The stock had previously closed at $47.67.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of World Fuel Services Corp. from a “hold” rating to a “strong-buy” rating and set a $55.00 price target for the company in a research report on Tuesday, July 5th. Credit Suisse Group AG downgraded shares of World Fuel Services Corp. from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Friday, April 29th. Finally, Bank of America Corp. restated a “hold” rating and set a $50.00 price target on shares of World Fuel Services Corp. in a research report on Wednesday, April 13th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.50.
The firm has a 50-day moving average of $46.41 and a 200-day moving average of $45.39. The company has a market capitalization of $3.25 billion and a PE ratio of 17.62.
World Fuel Services Corp. (NYSE:INT) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.07. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. World Fuel Services Corp.’s revenue was down 21.9% compared to the same quarter last year. Analysts forecast that World Fuel Services Corp. will post $2.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $0.24 annualized dividend and a yield of 0.52%.
In other World Fuel Services Corp. news, EVP John Peter Rau sold 1,000 shares of World Fuel Services Corp. stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $45.21, for a total value of $45,210.00. Following the transaction, the executive vice president now directly owns 43,878 shares in the company, valued at $1,983,724.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Carlos M. Velazquez sold 4,500 shares of World Fuel Services Corp. stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $45.26, for a total transaction of $203,670.00. Following the completion of the transaction, the chief accounting officer now owns 12,323 shares in the company, valued at $557,738.98. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Marshall Wace LLP acquired a new position in World Fuel Services Corp. during the fourth quarter worth approximately $3,827,000. Suntrust Banks Inc. raised its position in World Fuel Services Corp. by 7.6% in the fourth quarter. Suntrust Banks Inc. now owns 34,978 shares of the company’s stock worth $1,344,000 after buying an additional 2,457 shares in the last quarter. Royce & Associates LLC raised its position in World Fuel Services Corp. by 38.5% in the fourth quarter. Royce & Associates LLC now owns 89,927 shares of the company’s stock worth $3,459,000 after buying an additional 25,000 shares in the last quarter. Principal Financial Group Inc. raised its position in World Fuel Services Corp. by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 229,540 shares of the company’s stock worth $8,828,000 after buying an additional 2,849 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in World Fuel Services Corp. by 1,797.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 144,273 shares of the company’s stock worth $5,549,000 after buying an additional 136,671 shares in the last quarter.
World Fuel Services Corporation is a fuel logistics, transaction management and payment processing company. The Company operates through three segments: aviation, marine and land. The aviation segment offers fuel and related services to commercial airlines second and third-tier airlines, cargo carriers, regional carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft and military fleets.
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