World Kinect Corporation (NYSE:WKC) Given Consensus Recommendation of “Reduce” by Brokerages

World Kinect Corporation (NYSE:WKC) has earned an average rating of “Reduce” from the six research firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $28.75.

WKC has been the topic of a number of recent analyst reports. Morgan Stanley reduced their target price on World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. Zacks Research downgraded shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of World Kinect in a report on Monday. Finally, Raymond James Financial restated an “outperform” rating and issued a $33.00 target price (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st.

Institutional Investors Weigh In On World Kinect

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of World Kinect by 27.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock worth $45,000 after buying an additional 344 shares in the last quarter. Clearstead Advisors LLC lifted its stake in World Kinect by 52.8% in the third quarter. Clearstead Advisors LLC now owns 1,261 shares of the company’s stock worth $33,000 after acquiring an additional 436 shares during the period. Cetera Investment Advisers grew its holdings in World Kinect by 5.1% during the 1st quarter. Cetera Investment Advisers now owns 9,250 shares of the company’s stock worth $262,000 after acquiring an additional 451 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in World Kinect by 0.5% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 110,836 shares of the company’s stock valued at $2,876,000 after purchasing an additional 502 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in World Kinect by 14.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,976 shares of the company’s stock valued at $113,000 after purchasing an additional 503 shares during the period. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

World Kinect Stock Up 3.9%

Shares of NYSE WKC opened at $23.96 on Friday. World Kinect has a 1 year low of $22.70 and a 1 year high of $31.54. The firm has a 50-day simple moving average of $25.50 and a two-hundred day simple moving average of $26.70. The company has a market cap of $1.33 billion, a P/E ratio of -3.09, a PEG ratio of 1.31 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.99.

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). World Kinect had a positive return on equity of 7.11% and a negative net margin of 1.16%.The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts anticipate that World Kinect will post 2.56 earnings per share for the current year.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, September 30th. World Kinect’s dividend payout ratio (DPR) is presently -10.34%.

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.