World Kinect Co. Announces Quarterly Dividend of $0.17 (NYSE:WKC)

World Kinect Co. (NYSE:WKC - Get Free Report) announced a quarterly dividend on Monday, December 16th,Wall Street Journal reports. Investors of record on Monday, December 23rd will be given a dividend of 0.17 per share on Thursday, January 16th. This represents a $0.68 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Monday, December 23rd.

World Kinect has raised its dividend payment by an average of 11.9% per year over the last three years. World Kinect has a payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect World Kinect to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 27.8%.

World Kinect Trading Down 0.1 %

NYSE WKC traded down $0.03 during trading on Monday, hitting $28.24. The stock had a trading volume of 846,631 shares, compared to its average volume of 658,267. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $1.64 billion, a PE ratio of 12.55, a PEG ratio of 1.12 and a beta of 1.28. The firm has a 50 day moving average price of $28.79 and a 200 day moving average price of $27.88. World Kinect has a twelve month low of $21.21 and a twelve month high of $31.70.

World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.62 earnings per share for the quarter, meeting analysts' consensus estimates of $0.62. The firm had revenue of $10.49 billion during the quarter, compared to analysts' expectations of $11.77 billion. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The business's quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. As a group, equities research analysts forecast that World Kinect will post 2.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Stifel Nicolaus lowered World Kinect from a "buy" rating to a "hold" rating and decreased their target price for the company from $33.00 to $32.00 in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on World Kinect from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Morgan Stanley lowered shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 target price on the stock. in a research note on Monday, September 16th. Finally, Bank of America lifted their price target on shares of World Kinect from $24.00 to $27.00 and gave the stock an "underperform" rating in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $30.20.

World Kinect announced that its board has authorized a share repurchase program on Monday, September 9th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 11% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

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.