World Fuel Services Corporation (INT) Announces Quarterly Earnings Results
World Fuel Services Corporation (NYSE:INT) issued its earnings results on Thursday. The oil and gas company reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60, Bloomberg Earnings reports. The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.19 billion. World Fuel Services Corporation had a return on equity of 5.60% and a net margin of 0.34%. World Fuel Services Corporation’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share.
World Fuel Services Corporation (NYSE:INT) remained flat at $35.90 during mid-day trading on Thursday. 487,042 shares of the company traded hands. World Fuel Services Corporation has a 1-year low of $32.28 and a 1-year high of $47.49. The firm has a 50 day moving average of $35.49 and a 200-day moving average of $36.06. The company has a market cap of $2.46 billion, a PE ratio of 23.51 and a beta of 0.95.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 16th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Friday, October 13th. World Fuel Services Corporation’s dividend payout ratio (DPR) is presently 15.69%.
Several analysts have issued reports on INT shares. BidaskClub raised World Fuel Services Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research lowered World Fuel Services Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Bank of America Corporation lowered World Fuel Services Corporation from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $41.00 to $36.00 in a research note on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $42.00.
World Fuel Services Corporation announced that its board has authorized a share repurchase plan on Wednesday, October 4th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
In other World Fuel Services Corporation news, SVP Carlos M. Velazquez sold 6,850 shares of World Fuel Services Corporation stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $33.74, for a total value of $231,119.00. Following the sale, the senior vice president now owns 16,946 shares of the company’s stock, valued at approximately $571,758.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Alexander Lake sold 1,500 shares of World Fuel Services Corporation stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $35.00, for a total value of $52,500.00. Following the completion of the sale, the executive vice president now directly owns 42,302 shares in the company, valued at approximately $1,480,570. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
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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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