World Kinect Corporation (NYSE:WKC) Receives Average Recommendation of “Reduce” from Analysts

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

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

World Kinect Stock Down 1.6%

NYSE:WKC opened at $27.62 on Friday. World Kinect has a 12-month low of $22.70 and a 12-month high of $31.54. 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 capitalization of $1.53 billion, a P/E ratio of -3.57, a P/E/G ratio of 1.25 and a beta of 1.13. The stock’s fifty day simple moving average is $24.47 and its 200-day simple moving average is $25.83.

World Kinect (NYSE:WKC) last released 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). 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 during the quarter, compared to the consensus estimate of $9.38 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities research analysts expect that World Kinect will post 2.56 earnings per share for the current year.

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, December 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, December 15th. World Kinect’s payout ratio is presently -10.34%.

Institutional Investors Weigh In On World Kinect

A number of hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. grew its position in shares of World Kinect by 188.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of World Kinect by 282.7% in the third quarter. Hantz Financial Services Inc. now owns 1,286 shares of the company’s stock valued at $33,000 after buying an additional 950 shares during the period. Clearstead Advisors LLC increased its position in shares of World Kinect by 52.8% during the third quarter. Clearstead Advisors LLC now owns 1,261 shares of the company’s stock worth $33,000 after acquiring an additional 436 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of World Kinect by 27.6% during the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock worth $45,000 after acquiring an additional 344 shares during the period. Finally, Versant Capital Management Inc lifted its position in World Kinect by 369.3% in the 3rd quarter. Versant Capital Management Inc now owns 2,112 shares of the company’s stock valued at $55,000 after acquiring an additional 1,662 shares in the last quarter. Institutional investors and hedge funds 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.