World Kinect’s (WKC) “Outperform” Rating Reiterated at Raymond James Financial

Raymond James Financial reissued their outperform rating on shares of World Kinect (NYSE:WKC) in a research note published on Friday morning,Benzinga reports. The firm currently has a $33.00 target price on the stock, down from their previous target price of $35.00.

Separately, Bank of America decreased their price objective on World Kinect from $27.00 to $26.00 and set an “underperform” rating for the company in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.80.

World Kinect Stock Performance

Shares of WKC opened at $25.32 on Friday. World Kinect has a 12 month low of $22.70 and a 12 month high of $31.70. The stock has a fifty day moving average price of $28.20 and a 200-day moving average price of $27.54. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.43 billion, a PE ratio of -3.32, a P/E/G ratio of 1.21 and a beta of 1.39.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.48 by $0.11. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $9.32 billion. Equities research analysts predict that World Kinect will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 17th. This is a positive change from World Kinect’s previous quarterly dividend of $0.17. World Kinect’s payout ratio is currently -10.48%.

Hedge Funds Weigh In On World Kinect

Several hedge funds have recently made changes to their positions in WKC. Caitong International Asset Management Co. Ltd acquired a new position in shares of World Kinect in the 1st quarter valued at $32,000. Quarry LP acquired a new position in shares of World Kinect in the 1st quarter valued at $38,000. GAMMA Investing LLC increased its position in shares of World Kinect by 27.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock valued at $45,000 after acquiring an additional 344 shares during the period. Headlands Technologies LLC acquired a new position in shares of World Kinect in the 4th quarter valued at $48,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of World Kinect in the 4th quarter valued at $98,000. 97.06% of the stock is owned by institutional investors and hedge funds.

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.