World Kinect (NYSE:WKC) Releases Earnings Results, Misses Expectations By $0.08 EPS

World Kinect (NYSE:WKC) announced its quarterly earnings data on Thursday. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08), Briefing.com reports. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a return on equity of 6.39% and a net margin of 0.12%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 EPS.

World Kinect Price Performance

NYSE WKC traded down $0.10 during trading hours on Friday, reaching $26.85. The company’s stock had a trading volume of 1,007,312 shares, compared to its average volume of 540,550. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.14. The company’s 50-day moving average is $25.81 and its two-hundred day moving average is $24.79. World Kinect has a fifty-two week low of $17.69 and a fifty-two week high of $27.25. The stock has a market cap of $1.61 billion, a PE ratio of 27.60, a PEG ratio of 0.86 and a beta of 1.24.

World Kinect Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 41,545 shares of the company’s stock, valued at approximately $999,988.15. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WKC. Raymond James upped their price target on shares of World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus lowered their target price on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.