Brokerages Set World Kinect Corporation (NYSE:WKC) Target Price at $28.75

World Kinect Corporation (NYSE:WKC) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $28.75.

Several equities research analysts have issued reports on WKC shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of World Kinect in a report on Saturday, September 27th. Raymond James Financial reaffirmed an “outperform” rating and set a $33.00 price target (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Morgan Stanley cut their price target on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. Finally, Zacks Research raised World Kinect from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th.

World Kinect Trading Up 0.1%

NYSE WKC opened at $26.10 on Friday. The company has a market cap of $1.45 billion, a PE ratio of -3.42, a PEG ratio of 1.18 and a beta of 1.31. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. World Kinect has a 12 month low of $22.70 and a 12 month high of $31.64. The stock has a 50 day moving average of $26.20 and a 200-day moving average of $26.78.

World Kinect (NYSE:WKC) last released 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. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. On average, equities research analysts anticipate that World Kinect will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.1%. World Kinect’s dividend payout ratio (DPR) is currently -10.48%.

Institutional Investors Weigh In On World Kinect

Several hedge funds have recently added to or reduced their stakes in the business. Brandes Investment Partners LP increased its position in World Kinect by 0.5% during the 2nd quarter. Brandes Investment Partners LP now owns 2,635,485 shares of the company’s stock worth $74,716,000 after buying an additional 13,262 shares during the period. LSV Asset Management increased its position in World Kinect by 5.6% during the 2nd quarter. LSV Asset Management now owns 1,637,239 shares of the company’s stock worth $46,416,000 after buying an additional 87,197 shares during the period. Boston Partners increased its position in World Kinect by 1.4% during the 2nd quarter. Boston Partners now owns 1,492,314 shares of the company’s stock worth $41,367,000 after buying an additional 20,046 shares during the period. Ameriprise Financial Inc. increased its position in World Kinect by 18.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 732,715 shares of the company’s stock worth $20,773,000 after buying an additional 111,525 shares during the period. Finally, American Century Companies Inc. increased its position in World Kinect by 45.0% during the 2nd quarter. American Century Companies Inc. now owns 635,541 shares of the company’s stock worth $18,018,000 after buying an additional 197,153 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

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.