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

Shares of World Kinect Corporation (NYSE:WKC) have earned an average rating of “Reduce” from the six analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $28.75.

WKC has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of World Kinect in a report on Monday, December 29th. Zacks Research lowered World Kinect from a “hold” rating to a “strong sell” rating in a report on Monday, December 22nd.

World Kinect Trading Up 2.6%

Shares of WKC opened at $28.10 on Friday. World Kinect has a fifty-two week low of $22.70 and a fifty-two week high of $31.54. The business has a 50-day moving average of $24.43 and a 200 day moving average of $25.86. The firm has a market cap of $1.56 billion, a P/E ratio of -3.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.15.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.07). The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.38 billion. World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. World Kinect’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. As a group, research analysts forecast that World Kinect will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 15th. World Kinect’s payout ratio is presently -10.34%.

Institutional Investors Weigh In On World Kinect

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in World Kinect by 2.2% during the 1st quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock worth $1,934,000 after acquiring an additional 1,481 shares during the period. AQR Capital Management LLC grew its position in shares of World Kinect by 16.5% during the 1st quarter. AQR Capital Management LLC now owns 119,198 shares of the company’s stock valued at $3,380,000 after purchasing an additional 16,874 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of World Kinect by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company’s stock worth $963,000 after purchasing an additional 1,497 shares during the period. Millennium Management LLC raised its position in shares of World Kinect by 3.3% in the first quarter. Millennium Management LLC now owns 525,697 shares of the company’s stock worth $14,909,000 after buying an additional 16,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in World Kinect by 18.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company’s stock valued at $6,262,000 after buying an additional 34,807 shares during the period. 97.06% of the stock is owned by hedge funds and other institutional investors.

About World Kinect

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.