Key Points
- Chairman Michael Kasbar sold 10,000 World Kinect shares at an average price of $36.41, totaling $364,100. He retained 946,450 shares after the transaction.
- World Kinect reported quarterly EPS of $0.99, beating the $0.96 consensus, while revenue of $13.27 billion exceeded estimates and rose 41.3% year over year.
- Analyst sentiment was bearish: MarketBeat reported a “Strong Sell” consensus rating and a $32 average price target, below the stock’s cited $37.88 opening price.
World Kinect Corporation (NYSE:WKC - Get Free Report) Chairman Michael Kasbar sold 10,000 shares of the business's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $36.41, for a total value of $364,100.00. Following the sale, the chairman owned 946,450 shares in the company, valued at $34,460,244.50. This represents a 1.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
World Kinect Price Performance
World Kinect stock opened at $37.88 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $1.94 billion, a PE ratio of -12.75, a P/E/G ratio of 0.58 and a beta of 1.29. World Kinect Corporation has a 12 month low of $22.21 and a 12 month high of $41.20. The stock has a 50-day moving average price of $36.06 and a two-hundred day moving average price of $30.93.
World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The firm had revenue of $13.27 billion for the quarter, compared to analyst estimates of $12.34 billion. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. The business's revenue for the quarter was up 41.3% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. Analysts expect that World Kinect Corporation will post 3.61 EPS for the current year.
World Kinect Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Monday, September 28th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, September 28th. World Kinect's dividend payout ratio (DPR) is -30.98%.
Institutional Trading of World Kinect
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in World Kinect by 235.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company's stock worth $14,879,000 after purchasing an additional 452,462 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of World Kinect by 7.6% in the 1st quarter. Principal Financial Group Inc. now owns 365,120 shares of the company's stock valued at $8,423,000 after purchasing an additional 25,708 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of World Kinect by 30.4% in the 1st quarter. Royal Bank of Canada now owns 328,662 shares of the company's stock valued at $7,583,000 after purchasing an additional 76,657 shares during the last quarter. Man Group plc bought a new stake in shares of World Kinect in the 2nd quarter valued at $10,379,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of World Kinect during the second quarter worth $10,224,000. Institutional investors and hedge funds own 97.06% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on WKC shares. Wall Street Zen downgraded shares of World Kinect from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 10th. Zacks Research cut shares of World Kinect from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of World Kinect in a research note on Monday, October 26th. Bank of America reaffirmed an "underperform" rating on shares of World Kinect in a research note on Monday. Finally, Morgan Stanley lifted their price target on shares of World Kinect from $30.00 to $32.00 and gave the stock an "underweight" rating in a report on Tuesday. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Strong Sell" and a consensus target price of $32.00.
Read Our Latest Report on World Kinect
World Kinect Company Profile
(
Get Free Report)
World Kinect Corporation (NYSE:WKC) is an energy management company that supplies, distributes and manages fuel and other energy products for commercial customers around the world. The company serves the aviation, marine and land transportation sectors, as well as commercial, industrial and government customers.
Its offerings include conventional and renewable fuels, natural gas, electricity, lubricants, fuel-management services and related environmental solutions. World Kinect also provides procurement, logistics, payment-processing and transaction-management services designed to help customers manage energy supply, costs and operational requirements.
The company was founded as World Fuel Services in 1985 and adopted the World Kinect name in 2024.
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