World Kinect (NYSE:WKC) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

World Kinect (NYSE:WKCGet Free Report) released its quarterly earnings results on Thursday. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04, Zacks reports. World Kinect had a net margin of 0.22% and a return on equity of 6.11%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.23 billion. During the same period last year, the firm earned $0.54 earnings per share.

World Kinect Price Performance

Shares of World Kinect stock traded up $2.08 during midday trading on Friday, hitting $25.93. 618,029 shares of the company traded hands, compared to its average volume of 469,486. The firm’s fifty day moving average price is $22.82 and its 200-day moving average price is $21.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 1.12. World Kinect has a 12 month low of $17.69 and a 12 month high of $29.40. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 2.07 and a beta of 1.26.

World Kinect Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Monday, December 18th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, December 15th. World Kinect’s dividend payout ratio (DPR) is presently 32.00%.

Institutional Investors Weigh In On World Kinect

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in shares of World Kinect by 0.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 44,844 shares of the company’s stock worth $918,000 after purchasing an additional 413 shares during the period. Captrust Financial Advisors increased its stake in shares of World Kinect by 18.3% in the 2nd quarter. Captrust Financial Advisors now owns 2,708 shares of the company’s stock valued at $56,000 after acquiring an additional 419 shares in the last quarter. Toroso Investments LLC increased its stake in shares of World Kinect by 4.7% in the 4th quarter. Toroso Investments LLC now owns 14,613 shares of the company’s stock valued at $399,000 after acquiring an additional 651 shares in the last quarter. Quarry LP increased its stake in shares of World Kinect by 154.9% in the 1st quarter. Quarry LP now owns 1,550 shares of the company’s stock valued at $40,000 after acquiring an additional 942 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of World Kinect by 1.1% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 89,096 shares of the company’s stock valued at $2,088,000 after acquiring an additional 1,010 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of World Kinect in a research report on Wednesday. They set a “neutral” rating and a $25.00 price target on the stock. Morgan Stanley assumed coverage on shares of World Kinect in a research report on Monday, November 6th. They set an “equal weight” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, World Kinect has an average rating of “Hold” and a consensus target price of $25.25.

Check Out Our Latest Stock Analysis on World Kinect

About World Kinect

(Get Free Report)

World Kinect Corporation engages in the distribution of fuel and related products and services in the aviation, marine and land transportation industries worldwide. Its Aviation segment supplies fuel and related products and services to commercial airlines, second and third tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, charters, fractional operators, private aircraft, the U.S., foreign governments, intergovernmental, and military customers.

Featured Stories

Earnings History for World Kinect (NYSE:WKC)

Receive News & Ratings for World Kinect Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Kinect and related companies with MarketBeat.com's FREE daily email newsletter.