World Kinect (NYSE:WKC) Shares Gap Up Following Better-Than-Expected Earnings

Shares of World Kinect Corporation (NYSE:WKC) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $23.54, but opened at $28.75. World Kinect shares last traded at $26.5970, with a volume of 259,447 shares trading hands.

The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.44. World Kinect had a negative net margin of 1.66% and a positive return on equity of 6.62%. The business had revenue of $9.69 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period last year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Monday, March 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. World Kinect’s dividend payout ratio (DPR) is currently -7.22%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WKC shares. Morgan Stanley decreased their target price on shares of World Kinect from $27.00 to $25.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of World Kinect in a research report on Monday, December 29th. Finally, Zacks Research raised shares of World Kinect from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, World Kinect has a consensus rating of “Reduce” and a consensus price target of $28.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WKC. Royal Bank of Canada lifted its position in shares of World Kinect by 2.2% during the first quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock worth $1,934,000 after purchasing an additional 1,481 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of World Kinect by 16.5% during the first quarter. AQR Capital Management LLC now owns 119,198 shares of the company’s stock worth $3,380,000 after purchasing an additional 16,874 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of World Kinect by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company’s stock worth $963,000 after purchasing an additional 1,497 shares in the last quarter. Millennium Management LLC lifted its position in shares of World Kinect by 3.3% during the first quarter. Millennium Management LLC now owns 525,697 shares of the company’s stock worth $14,909,000 after purchasing an additional 16,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of World Kinect by 18.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company’s stock worth $6,262,000 after purchasing an additional 34,807 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Trading Up 11.4%

The business’s 50-day moving average price is $23.97 and its 200 day moving average price is $24.81. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 0.92. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -2.37, a PEG ratio of 0.61 and a beta of 1.11.

World Kinect Company Profile

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.