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

World Kinect Corporation (NYSE:WKC) has been assigned a consensus recommendation of “Reduce” from the six analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $28.75.

WKC has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of World Kinect in a research note on Monday, December 29th. Zacks Research downgraded shares of World Kinect from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd.

World Kinect Stock Performance

WKC opened at $27.61 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.53 billion, a PE ratio of -3.57, a P/E/G ratio of 1.23 and a beta of 1.13. The business has a fifty day simple moving average of $24.35 and a 200-day simple moving average of $25.83. World Kinect has a fifty-two week low of $22.70 and a fifty-two week high of $31.54.

World Kinect (NYSE:WKC) last announced its 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). World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.38 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts predict that World Kinect will post 2.56 EPS for the current fiscal year.

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Monday, December 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 15th. World Kinect’s dividend payout ratio (DPR) is -10.34%.

Hedge Funds Weigh In On World Kinect

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in World Kinect by 2.2% in the 1st quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock valued at $1,934,000 after buying an additional 1,481 shares during the last quarter. AQR Capital Management LLC boosted its holdings in World Kinect by 16.5% during the first quarter. AQR Capital Management LLC now owns 119,198 shares of the company’s stock valued at $3,380,000 after acquiring an additional 16,874 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of World Kinect by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company’s stock valued at $963,000 after purchasing an additional 1,497 shares during the last quarter. Millennium Management LLC increased its stake in shares of World Kinect by 3.3% in 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 during the period. 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 1st 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 during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

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.