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

World Kinect (NYSE:WKC) announced its earnings results 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. World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. During the same period in the previous year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis.

World Kinect Price Performance

World Kinect stock traded down $0.10 during midday trading on Friday, hitting $26.85. The company’s stock had a trading volume of 1,007,312 shares, compared to its average volume of 540,550. World Kinect has a 12 month low of $17.69 and a 12 month high of $27.25. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average price is $25.81 and its 200-day moving average price is $24.79. The company has a market capitalization of $1.61 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 0.86 and a beta of 1.24.

World Kinect Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on WKC. Raymond James boosted their price target on World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Stifel Nicolaus lowered their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.00.

Insider Activity

In related news, Director Ken Bakshi sold 10,936 shares of World Kinect stock in a transaction on Monday, May 6th. The stock was sold at an average price of $24.07, for a total value of $263,229.52. Following the transaction, the director now directly owns 41,545 shares in the company, valued at approximately $999,988.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

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.