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

World Kinect Co. (NYSE:WKC) announced a quarterly dividend on Monday, September 9th, NASDAQ reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Monday, September 30th.

World Kinect has raised its dividend by an average of 11.9% per year over the last three years. World Kinect has a dividend payout ratio of 27.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect World Kinect to earn $2.47 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 27.5%.

World Kinect Price Performance

World Kinect stock opened at $30.81 on Friday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 1.06 and a beta of 1.24. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39. World Kinect has a 12 month low of $17.69 and a 12 month high of $31.70. The stock’s 50 day moving average is $28.06 and its 200-day moving average is $26.32.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. Equities research analysts expect that World Kinect will post 2.15 EPS for the current year.

Insider Activity

In related news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the sale, the director now directly owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other World Kinect news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value of $452,480.00. Following the sale, the director now owns 49,614 shares in the company, valued at $1,403,083.92. 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 company’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus decreased their target price 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. JPMorgan Chase & Co. raised their price objective on World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Bank of America upped their target price 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, Morgan Stanley cut World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Monday, September 16th. Two 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.40.

About World Kinect

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.