World Fuel Services Corporation (INT) Hits New 12-Month Low at $29.25

Shares of World Fuel Services Corporation (NYSE:INT) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $29.25 and last traded at $29.25, with a volume of 803,766 shares traded. The stock had previously closed at $30.47.

A number of research firms have issued reports on INT. BidaskClub downgraded World Fuel Services Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Bank of America Corporation downgraded World Fuel Services Corporation from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $41.00 to $36.00 in a research report on Tuesday, September 26th. Finally, Zacks Investment Research downgraded World Fuel Services Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.00.

The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 19.24 and a beta of 0.95. The stock has a 50 day moving average price of $35.41 and a 200-day moving average price of $36.02.

World Fuel Services Corporation (NYSE:INT) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.19 billion. World Fuel Services Corporation had a return on equity of 5.54% and a net margin of 0.08%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. On average, analysts predict that World Fuel Services Corporation will post $2.25 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 16th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.79%. World Fuel Services Corporation’s payout ratio is 68.57%.

World Fuel Services Corporation declared that its board has authorized a stock repurchase plan on Wednesday, October 4th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, SVP Carlos M. Velazquez sold 6,850 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $33.74, for a total transaction of $231,119.00. Following the transaction, the senior vice president now directly owns 16,946 shares of the company’s stock, valued at approximately $571,758.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Alexander Lake sold 1,500 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $35.00, for a total value of $52,500.00. Following the transaction, the executive vice president now directly owns 42,302 shares in the company, valued at $1,480,570. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. bought a new position in World Fuel Services Corporation in the 3rd quarter worth $475,000. Third Avenue Management LLC raised its holdings in World Fuel Services Corporation by 5.5% in the 3rd quarter. Third Avenue Management LLC now owns 175,419 shares of the oil and gas company’s stock worth $5,949,000 after purchasing an additional 9,100 shares during the period. Nationwide Fund Advisors raised its holdings in World Fuel Services Corporation by 1.6% in the 3rd quarter. Nationwide Fund Advisors now owns 141,168 shares of the oil and gas company’s stock worth $4,787,000 after purchasing an additional 2,181 shares during the period. Meeder Asset Management Inc. raised its holdings in World Fuel Services Corporation by 222.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 36,287 shares of the oil and gas company’s stock worth $1,230,000 after purchasing an additional 25,043 shares during the period. Finally, Dean Capital Management bought a new position in World Fuel Services Corporation in the 2nd quarter worth $3,934,000. 89.37% of the stock is currently owned by institutional investors.

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About World Fuel Services Corporation

World Fuel Services Corporation is engaged in providing aviation, marine and land energy, logistics and technology solutions to customers and suppliers around the world. The Company operates through three segments: Aviation, Marine and Land. In its Aviation segment, the Company offers fuel and related products and services.

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