World Kinect Co. (NYSE:WKC) Plans Quarterly Dividend of $0.17

World Kinect Co. (NYSE:WKC) announced a quarterly dividend on Monday, September 9th, NASDAQ reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.17 per share on Wednesday, October 16th. This represents a $0.68 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, September 30th.

World Kinect has raised its dividend by an average of 11.9% per year over the last three years. World Kinect has a dividend payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect World Kinect to earn $2.46 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 27.6%.

World Kinect Trading Up 3.5 %

Shares of NYSE:WKC traded up $0.97 during trading on Tuesday, hitting $28.49. The company had a trading volume of 615,039 shares, compared to its average volume of 556,439. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24. World Kinect has a one year low of $17.69 and a one year high of $28.93. The company has a fifty day simple moving average of $27.00 and a two-hundred day simple moving average of $25.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.98 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts forecast that World Kinect will post 2.15 earnings per share for the current year.

Insider Activity

In other news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director John L. Manley sold 16,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now directly owns 49,614 shares in the company, valued at approximately $1,403,083.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their target price on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.00.

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.