World Kinect Corporation (NYSE:WKC) Receives $28.75 Consensus Price Target from Analysts

World Kinect Corporation (NYSE:WKC) has received an average rating of “Reduce” from the six ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $28.75.

WKC has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of World Kinect in a research note on Monday, December 29th. Zacks Research raised shares of World Kinect from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th.

World Kinect Price Performance

NYSE:WKC opened at $27.59 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.99. The company has a 50 day moving average price of $25.38 and a 200-day moving average price of $25.57. World Kinect has a 1-year low of $22.70 and a 1-year high of $31.54. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -3.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.13.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, December 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, December 15th. World Kinect’s payout ratio is presently -10.34%.

Hedge Funds Weigh In On World Kinect

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

World Kinect Company Profile

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.