World Kinect (NYSE:WKC) Issues Quarterly Earnings Results

World Kinect (NYSE:WKC - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.62 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.62, Briefing.com reports. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the business earned $0.58 EPS. The company's revenue was down 14.3% compared to the same quarter last year.

World Kinect Stock Performance

Shares of World Kinect stock traded down $4.95 during trading on Friday, reaching $26.39. The company's stock had a trading volume of 3,062,760 shares, compared to its average volume of 882,514. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. The business's 50-day moving average price is $29.63 and its 200-day moving average price is $27.03. World Kinect has a 52 week low of $17.69 and a 52 week high of $31.70. The firm has a market cap of $1.56 billion, a PE ratio of 11.68, a P/E/G ratio of 1.08 and a beta of 1.25.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, September 30th. World Kinect's payout ratio is presently 30.09%.

World Kinect declared that its Board of Directors has authorized a share buyback program on Monday, September 9th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 11% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other World Kinect news, Director John L. Manley sold 16,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the transaction, the director now owns 49,614 shares in the company, valued at $1,403,083.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other World Kinect news, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the transaction, the director now directly owns 49,614 shares of the company's stock, valued at $1,403,083.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WKC shares. JPMorgan Chase & Co. lifted their target price on World Kinect from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Bank of America increased their price objective on World Kinect from $24.00 to $27.00 and gave the company an "underperform" rating in a report on Friday, September 13th. Stifel Nicolaus lowered shares of World Kinect from a "buy" rating to a "hold" rating and dropped their price target for the stock from $33.00 to $32.00 in a research report on Friday. Finally, Morgan Stanley lowered shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 price objective on the stock. in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, World Kinect presently has an average rating of "Hold" and a consensus price target of $30.20.

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.