World Kinect (WKC) Set to Announce Quarterly Earnings on Thursday

World Kinect (NYSE:WKC) is set to issue its quarterly earnings data after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 earnings per share. On average, analysts expect World Kinect to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

World Kinect Stock Up 1.9 %

NYSE:WKC opened at $31.21 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15. The company has a market cap of $1.87 billion, a PE ratio of 33.56, a PEG ratio of 1.06 and a beta of 1.25. World Kinect has a 52-week low of $17.69 and a 52-week high of $31.70. The stock has a 50-day simple moving average of $29.13 and a 200 day simple moving average of $26.84.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.18%. World Kinect’s payout ratio is presently 73.12%.

World Kinect declared that its board has initiated a share buyback program on Monday, September 9th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 11% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

WKC has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Morgan Stanley cut World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research report on Monday, September 16th. Bank of America increased their price target on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. increased their price target on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.40.

Insider Activity

In other news, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director John L. Manley sold 16,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the transaction, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

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.