World Kinect Co. Declares Quarterly Dividend of $0.17 (NYSE:WKC)

World Kinect Co. (NYSE:WKC) declared a quarterly dividend on Monday, September 9th, NASDAQ reports. Investors of record on Monday, September 30th will be given a dividend of 0.17 per share on Wednesday, October 16th. This represents a $0.68 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, September 30th.

World Kinect has increased its dividend payment by an average of 11.9% per year over the last three years. World Kinect has a payout ratio of 27.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect World Kinect to earn $2.46 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 27.6%.

World Kinect Stock Performance

Shares of WKC opened at $28.49 on Wednesday. World Kinect has a 12-month low of $17.69 and a 12-month high of $28.93. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.68 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24. The stock has a 50-day moving average price of $27.00 and a 200-day moving average price of $25.87.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, equities analysts forecast that World Kinect will post 2.15 earnings per share for the current fiscal year.

Insider Transactions at World Kinect

In other news, CEO Michael J. Kasbar sold 58,948 shares of World Kinect 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 sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The sale was disclosed in a filing with the SEC, which is available through this link. In other World Kinect news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $28,452,238.96. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reduced their price target on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.00.

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.