World Kinect Corporation (NYSE:WKC) Given Average Rating of “Reduce” by Brokerages

World Kinect Corporation (NYSE:WKC) has been assigned an average recommendation of “Reduce” from the six brokerages that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $28.75.

Several equities research analysts recently commented on WKC shares. Zacks Research downgraded shares of World Kinect from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of World Kinect in a research note on Monday, December 29th.

Hedge Funds Weigh In On World Kinect

A number of large investors have recently made changes to their positions in WKC. Brandes Investment Partners LP lifted its position in shares of World Kinect by 0.5% in the second quarter. Brandes Investment Partners LP now owns 2,635,485 shares of the company’s stock worth $74,716,000 after purchasing an additional 13,262 shares in the last quarter. Invesco Ltd. increased its stake in World Kinect by 9.5% in the 3rd quarter. Invesco Ltd. now owns 2,450,762 shares of the company’s stock valued at $63,597,000 after buying an additional 213,145 shares during the period. LSV Asset Management lifted its position in World Kinect by 6.3% in the 3rd quarter. LSV Asset Management now owns 1,740,728 shares of the company’s stock worth $45,172,000 after buying an additional 103,489 shares in the last quarter. Millennium Management LLC boosted its stake in shares of World Kinect by 373.8% during the 3rd quarter. Millennium Management LLC now owns 1,602,996 shares of the company’s stock valued at $41,598,000 after buying an additional 1,264,684 shares during the period. Finally, Boston Partners grew its holdings in shares of World Kinect by 5.1% during the 3rd quarter. Boston Partners now owns 1,568,452 shares of the company’s stock valued at $40,637,000 after acquiring an additional 76,138 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Trading Up 0.6%

Shares of WKC opened at $27.06 on Friday. The business’s 50-day moving average price is $24.29 and its 200 day moving average price is $25.85. The stock has a market capitalization of $1.50 billion, a P/E ratio of -3.50, a P/E/G ratio of 1.23 and a beta of 1.13. World Kinect has a 1-year low of $22.70 and a 1-year high of $31.54. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.38 billion. World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. World Kinect’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. Analysts expect that World Kinect will post 2.56 earnings per share for the current year.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Monday, December 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 15th. World Kinect’s dividend payout ratio is currently -10.34%.

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.