World Kinect’s (WKC) Sell (D+) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (d+) rating on shares of World Kinect (NYSE:WKC) in a research note published on Friday,Weiss Ratings reports.

WKC has been the topic of a number of other reports. Morgan Stanley dropped their price target on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. Raymond James Financial reissued an “outperform” rating and set a $33.00 target price (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Finally, Zacks Research raised World Kinect from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.75.

World Kinect Trading Up 3.4%

Shares of WKC stock opened at $26.62 on Friday. The company has a market capitalization of $1.48 billion, a P/E ratio of -3.44, a price-to-earnings-growth ratio of 1.24 and a beta of 1.31. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $26.03 and its two-hundred day moving average is $26.62. World Kinect has a twelve month low of $22.70 and a twelve month high of $31.54.

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

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, September 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 30th. World Kinect’s dividend payout ratio (DPR) is -10.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas lifted its stake in shares of World Kinect by 94.5% during the first quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company’s stock worth $946,000 after purchasing an additional 16,211 shares in the last quarter. Natixis Advisors LLC bought a new position in World Kinect in the first quarter worth about $405,000. Entropy Technologies LP acquired a new position in World Kinect in the first quarter valued at approximately $310,000. Strs Ohio acquired a new position in World Kinect in the first quarter valued at approximately $740,000. Finally, Brandywine Global Investment Management LLC grew its holdings in shares of World Kinect by 6.2% during the first quarter. Brandywine Global Investment Management LLC now owns 209,277 shares of the company’s stock valued at $5,935,000 after purchasing an additional 12,161 shares during the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

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.