World Kinect Corporation (NYSE:WKC) Receives $28.75 Average Price Target from Brokerages

World Kinect Corporation (NYSE:WKC) has been assigned a consensus recommendation of “Reduce” from the six analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $28.75.

WKC has been the topic of several analyst reports. Morgan Stanley cut their price target on World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings restated a “sell (d+)” rating on shares of World Kinect in a research report on Wednesday, October 8th. Raymond James Financial restated 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. Finally, Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WKC. First Horizon Advisors Inc. boosted its position in World Kinect by 188.4% during the second quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in World Kinect during the 1st quarter worth $32,000. Quarry LP bought a new stake in World Kinect during the first quarter valued at about $38,000. GAMMA Investing LLC boosted its holdings in World Kinect by 27.6% during the second 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. Finally, Versant Capital Management Inc grew its position in shares of World Kinect by 369.3% in the third quarter. Versant Capital Management Inc now owns 2,112 shares of the company’s stock valued at $55,000 after purchasing an additional 1,662 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Price Performance

Shares of WKC stock opened at $25.90 on Tuesday. The firm has a fifty day moving average of $26.04 and a two-hundred day moving average of $26.66. The firm has a market cap of $1.44 billion, a P/E ratio of -3.35, a P/E/G ratio of 1.31 and a beta of 1.31. World Kinect has a 1-year low of $22.70 and a 1-year high of $31.54. 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 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.07). The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.38 billion. World Kinect had a positive return on equity of 7.11% and a negative net margin of 1.16%.The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS. As a group, research analysts anticipate that World Kinect will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, September 30th. World Kinect’s payout ratio is currently -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.