World Kinect Co. (NYSE:WKC) Receives $26.75 Average Target Price from Analysts

Shares of World Kinect Co. (NYSE:WKC) have earned a consensus rating of “Hold” from the four brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $26.75.

Several brokerages have commented on WKC. Bank of America increased their price target on World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. began coverage on World Kinect in a report on Wednesday, February 21st. They set a “neutral” rating and a $25.00 price target on the stock. Finally, Raymond James increased 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.

Insider Transactions at World Kinect

In other news, Director Paul H. Stebbins sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $24.37, for a total value of $487,400.00. Following the sale, the director now owns 75,375 shares in the company, valued at $1,836,888.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On World Kinect

Several hedge funds and other institutional investors have recently modified their holdings of WKC. JPMorgan Chase & Co. grew its stake in shares of World Kinect by 29.1% in the first quarter. JPMorgan Chase & Co. now owns 414,024 shares of the company’s stock worth $11,195,000 after acquiring an additional 93,316 shares during the last quarter. Citigroup Inc. boosted its stake in World Kinect by 16.8% during the first quarter. Citigroup Inc. now owns 104,723 shares of the company’s stock worth $2,832,000 after buying an additional 15,101 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in World Kinect by 125.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,155 shares of the company’s stock worth $140,000 after buying an additional 2,870 shares in the last quarter. Bank of Montreal Can boosted its stake in World Kinect by 20.0% during the first quarter. Bank of Montreal Can now owns 46,590 shares of the company’s stock worth $1,302,000 after buying an additional 7,771 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in World Kinect by 56.5% during the first quarter. MetLife Investment Management LLC now owns 33,929 shares of the company’s stock worth $917,000 after buying an additional 12,255 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Price Performance

NYSE WKC opened at $24.37 on Thursday. The company has a 50 day simple moving average of $25.01 and a 200-day simple moving average of $22.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 0.95. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. World Kinect has a 52-week low of $17.69 and a 52-week high of $26.83.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.23 billion. World Kinect had a net margin of 0.11% and a return on equity of 6.07%. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities research analysts predict that World Kinect will post 2.25 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, March 25th were paid a $0.17 dividend. This is an increase from World Kinect’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, March 22nd. This represents a $0.68 annualized dividend and a dividend yield of 2.79%. World Kinect’s dividend payout ratio (DPR) is presently 80.95%.

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.