World Kinect (NYSE:WKC) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

World Kinect (NYSE:WKC) announced its quarterly earnings results on Thursday. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08), Briefing.com reports. World Kinect had a return on equity of 6.32% and a net margin of 0.29%. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.98 billion. During the same period in the previous year, the business earned $0.48 EPS. The business’s revenue was down .1% compared to the same quarter last year.

World Kinect Stock Down 0.4 %

World Kinect stock traded down $0.10 during mid-day trading on Friday, reaching $26.85. The stock had a trading volume of 1,007,312 shares, compared to its average volume of 418,077. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 0.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.97. World Kinect has a one year low of $17.69 and a one year high of $27.25. The company has a 50-day moving average price of $25.83 and a two-hundred day moving average price of $24.82.

World Kinect Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Monday, June 17th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.68 annualized dividend and a dividend yield of 2.53%. World Kinect’s payout ratio is presently 73.12%.

Insider Transactions at World Kinect

In related news, Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.07, for a total value of $263,229.52. Following the transaction, the director now directly owns 41,545 shares of the company’s stock, valued at approximately $999,988.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

WKC has been the topic of several research analyst reports. Raymond James boosted their price target on shares of World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus lowered their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, World Kinect has an average rating of “Hold” and a consensus price target of $28.00.

World Kinect Company Profile

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.