Key Points
- Insider sale: Chairman Michael Kasbar sold 10,000 World Kinect shares at an average price of $35.40, generating $354,000. He retains 966,450 shares, valued at approximately $34.2 million.
- Strong quarterly results: World Kinect reported adjusted earnings of $1.29 per share, beating estimates of $0.75, while revenue rose 50.3% year over year to $13.59 billion.
- Mixed outlook: The company increased its quarterly dividend to $0.23 per share, but analysts maintain a consensus “Hold” rating with an average price target of $30, below the stock’s recent trading level near $35.41.
World Kinect Corporation (NYSE:WKC - Get Free Report) Chairman Michael Kasbar sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $35.40, for a total transaction of $354,000.00. Following the sale, the chairman owned 966,450 shares in the company, valued at $34,212,330. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
World Kinect Trading Up 0.9%
Shares of WKC stock opened at $35.41 on Friday. The company's fifty day simple moving average is $36.24 and its two-hundred day simple moving average is $29.88. World Kinect Corporation has a 1 year low of $22.21 and a 1 year high of $41.20. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -11.03, a PEG ratio of 0.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 0.91.
World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.54. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The firm had revenue of $13.59 billion for the quarter, compared to analysts' expectations of $10.50 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business's quarterly revenue was up 50.3% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. As a group, analysts anticipate that World Kinect Corporation will post 3.6 earnings per share for the current year.
World Kinect Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th were paid a $0.23 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. This is an increase from World Kinect's previous quarterly dividend of $0.20. World Kinect's dividend payout ratio is currently -28.66%.
Analysts Set New Price Targets
Several brokerages have recently commented on WKC. Weiss Ratings lowered World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a report on Tuesday, July 28th. Zacks Research upgraded shares of World Kinect from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Morgan Stanley set a $30.00 price target on shares of World Kinect in a research note on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of World Kinect from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $30.00.
Check Out Our Latest Analysis on World Kinect
Hedge Funds Weigh In On World Kinect
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cassaday & Co Wealth Management LLC bought a new position in shares of World Kinect during the first quarter valued at approximately $37,000. Aquatic Capital Management LLC purchased a new stake in World Kinect during the 3rd quarter valued at $61,000. Clearstead Advisors LLC increased its holdings in World Kinect by 108.8% in the 4th quarter. Clearstead Advisors LLC now owns 2,633 shares of the company's stock worth $62,000 after buying an additional 1,372 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in World Kinect by 977.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company's stock worth $62,000 after purchasing an additional 2,386 shares during the period. Finally, Transamerica Financial Advisors LLC purchased a new stake in World Kinect during the 2nd quarter valued at $73,000. Institutional investors own 97.06% of the company's stock.
World Kinect Company Profile
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Get Free Report)
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.
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