World Fuel Services Corp. (INT) Stock Price Down 5%
Shares of World Fuel Services Corp. (NYSE:INT) were down 5% during mid-day trading on Thursday . The stock traded as low as $45.25 and last traded at $45.31, with a volume of 637,035 shares changing hands. The stock had previously closed at $47.67.
Several equities analysts have weighed in on INT shares. 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 on the stock. in a report on Friday, April 29th. Zacks Investment Research raised shares of World Fuel Services Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Finally, Bank of America Corp. reiterated a “hold” rating and set a $50.00 price objective on shares of World Fuel Services Corp. in a research report on Wednesday, April 13th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $48.50.
The company’s 50 day moving average is $46.49 and its 200-day moving average is $45.46. The stock has a market capitalization of $3.35 billion and a price-to-earnings ratio of 17.74.
World Fuel Services Corp. (NYSE:INT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $0.53 EPS. The firm’s revenue was down 21.9% on a year-over-year basis. On average, equities research analysts predict that World Fuel Services Corp. will post $2.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 10th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, June 8th. This represents a $0.24 annualized dividend and a yield of 0.50%.
In related news, Director Richard A. Kassar sold 2,500 shares of the stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $46.82, for a total transaction of $117,050.00. Following the transaction, the director now directly owns 35,807 shares in the company, valued at $1,676,483.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Carlos M. Velazquez sold 4,500 shares of the stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $45.26, for a total value of $203,670.00. Following 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 institutional investors have added to or reduced their stakes in the company. Comerica Bank increased its position in World Fuel Services Corp. by 1.5% in the fourth quarter. Comerica Bank now owns 53,894 shares of the company’s stock valued at $2,053,000 after buying an additional 796 shares during the period. New York State Common Retirement Fund increased its position in World Fuel Services Corp. by 20.8% in the fourth quarter. New York State Common Retirement Fund now owns 205,400 shares of the company’s stock valued at $7,900,000 after buying an additional 35,300 shares during the period. Liberty Mutual Group Asset Management Inc. increased its position in World Fuel Services Corp. by 41.9% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 43,374 shares of the company’s stock valued at $1,668,000 after buying an additional 12,815 shares during the period. BOKF NA increased its position in World Fuel Services Corp. by 305.2% in the fourth quarter. BOKF NA now owns 40,494 shares of the company’s stock valued at $1,557,000 after buying an additional 30,500 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in World Fuel Services Corp. by 1.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,872,000 after buying an additional 764 shares during the period.
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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