World Kinect (NYSE:WKC) Issues Earnings Results, Misses Estimates By $0.08 EPS

World Kinect (NYSE:WKC) released its quarterly earnings data on Thursday. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08), Briefing.com reports. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.98 billion. World Kinect had a return on equity of 6.39% and a net margin of 0.12%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 EPS.

World Kinect Stock Down 0.4 %

WKC stock traded down $0.10 during mid-day trading on Friday, reaching $26.85. The company had a trading volume of 1,007,312 shares, compared to its average volume of 540,550. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 0.86 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.14. The firm has a fifty day simple moving average of $25.81 and a 200 day simple moving average of $24.79. World Kinect has a fifty-two week low of $17.69 and a fifty-two week high of $27.25.

World Kinect Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Monday, June 17th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Monday, June 17th. World Kinect’s dividend payout ratio is currently 73.12%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WKC shares. Stifel Nicolaus cut their price target on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday. Raymond James raised their price target on World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.00.

Insiders Place Their Bets

In related news, Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.07, for a total value of $263,229.52. Following the completion of the sale, the director now owns 41,545 shares in the company, valued at approximately $999,988.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is owned by corporate insiders.

About World Kinect

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.