World Kinect Corporation (NYSE:WKC) Receives Consensus Rating of “Reduce” from Brokerages

World Kinect Corporation (NYSE:WKC) has earned an average rating of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.75.

Several research firms recently issued reports on WKC. Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings restated a “sell (d+)” rating on shares of World Kinect in a research note on Monday, December 8th.

Institutional Trading of World Kinect

Several hedge funds have recently bought and sold shares of WKC. First Horizon Advisors Inc. boosted its holdings in shares of World Kinect by 188.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of World Kinect in the first quarter worth about $32,000. Hantz Financial Services Inc. boosted its stake in World Kinect by 282.7% during the third quarter. Hantz Financial Services Inc. now owns 1,286 shares of the company’s stock valued at $33,000 after buying an additional 950 shares during the last quarter. Clearstead Advisors LLC boosted its stake in World Kinect by 52.8% during the third quarter. Clearstead Advisors LLC now owns 1,261 shares of the company’s stock valued at $33,000 after buying an additional 436 shares during the last quarter. Finally, Quarry LP purchased a new position in World Kinect during the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Stock Down 3.3%

WKC opened at $23.67 on Wednesday. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -3.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.15. The firm’s fifty day moving average is $24.72 and its 200 day moving average is $26.29. World Kinect has a fifty-two week low of $22.70 and a fifty-two week high of $31.54.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). World Kinect had a positive return on equity of 7.11% and a negative net margin of 1.16%.The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same quarter in the previous year, the company posted $0.62 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that World Kinect will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Monday, December 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, December 15th. World Kinect’s dividend payout ratio (DPR) is presently -10.34%.

World Kinect Company Profile

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.