World Fuel Services Corp. (INT) Upgraded at Zacks Investment Research
According to Zacks, “World Fuel Services Corporation markets aviation and marine fuel services. In their aviation fuel services business, World Fuel extends credit and provides around-the-world single-supplier convenience, 24-hour service, and competitively-priced aviation fuel and other aviation related services, including fuel management services, to passenger, cargo and charter airlines. World Fuel also offers flight plans and weather reports to their corporate customers. “
Separately, Stifel Nicolaus initiated coverage on shares of World Fuel Services Corp. in a research note on Tuesday, August 23rd. They issued a hold rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $50.00.
World Fuel Services Corp. (NYSE:INT) opened at 46.26 on Wednesday. The company’s 50-day moving average is $45.38 and its 200 day moving average is $46.49. World Fuel Services Corp. has a one year low of $35.13 and a one year high of $51.01. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 17.24 and a beta of 1.18.
World Fuel Services Corp. (NYSE:INT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.07. World Fuel Services Corp. had a net margin of 0.70% and a return on equity of 11.25%. The company earned $6.63 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the company earned $0.53 EPS. World Fuel Services Corp.’s revenue was down 21.9% compared to the same quarter last year. Equities analysts expect that World Fuel Services Corp. will post $2.70 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Friday, September 23rd will be paid a $0.06 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.52%. World Fuel Services Corp.’s dividend payout ratio (DPR) is 9.13%.
In other news, CEO Michael J. Kasbar sold 25,950 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $46.38, for a total value of $1,203,561.00. Following the transaction, the chief executive officer now directly owns 832,581 shares in the company, valued at approximately $38,615,106.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Carlos M. Velazquez sold 599 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $45.21, for a total transaction of $27,080.79. Following the completion of the transaction, the senior vice president now owns 7,094 shares in the company, valued at $320,719.74. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of World Fuel Services Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 5,472,294 shares of the company’s stock valued at $259,879,000 after buying an additional 203,128 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of World Fuel Services Corp. by 3.4% in the second quarter. BlackRock Fund Advisors now owns 2,606,293 shares of the company’s stock valued at $123,773,000 after buying an additional 86,800 shares in the last quarter. State Street Corp raised its position in shares of World Fuel Services Corp. by 5.6% in the second quarter. State Street Corp now owns 2,464,085 shares of the company’s stock valued at $117,008,000 after buying an additional 131,152 shares in the last quarter. Janus Capital Management LLC raised its position in shares of World Fuel Services Corp. by 68.0% in the second quarter. Janus Capital Management LLC now owns 2,054,436 shares of the company’s stock valued at $97,565,000 after buying an additional 831,798 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of World Fuel Services Corp. by 1.8% in the first quarter. Wellington Management Group LLP now owns 1,627,957 shares of the company’s stock valued at $79,086,000 after buying an additional 28,238 shares in the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.
About World Fuel Services Corp.
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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