World Kinect (NYSE:WKC) Releases Quarterly Earnings Results, Beats Estimates By $998.42 EPS

World Kinect (NYSE:WKC) issued its earnings results on Thursday. The company reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $998.42, reports. World Kinect had a negative net margin of 1.66% and a positive return on equity of 6.62%.

World Kinect Stock Performance

World Kinect stock traded up $0.44 during trading hours on Thursday, reaching $23.62. 787,533 shares of the stock were exchanged, compared to its average volume of 833,111. The stock has a market cap of $1.21 billion, a P/E ratio of -2.13, a P/E/G ratio of 0.62 and a beta of 1.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.06. World Kinect has a 52-week low of $22.21 and a 52-week high of $29.85. The firm’s 50 day moving average is $24.02 and its 200 day moving average is $24.82.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Monday, March 30th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. World Kinect’s dividend payout ratio is presently -7.22%.

Hedge Funds Weigh In On World Kinect

A number of large investors have recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new position in shares of World Kinect in the 3rd quarter valued at about $61,000. Aster Capital Management DIFC Ltd increased its holdings in shares of World Kinect by 977.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company’s stock valued at $62,000 after purchasing an additional 2,386 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of World Kinect in the 2nd quarter valued at about $96,000. Tower Research Capital LLC TRC increased its holdings in shares of World Kinect by 72.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,021 shares of the company’s stock valued at $171,000 after purchasing an additional 2,534 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of World Kinect in the 2nd quarter valued at about $214,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley decreased their price target on shares of World Kinect from $27.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, March 3rd. Zacks Research upgraded shares of World Kinect from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of World Kinect in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $28.00.

About World Kinect

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.