World Kinect Corporation Announces Quarterly Dividend of $0.20 (NYSE:WKC)

World Kinect Corporation (NYSE:WKC) declared a quarterly dividend on Thursday, December 4th. Stockholders of record on Monday, December 15th will be paid a dividend of 0.20 per share on Friday, January 16th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, December 15th.

World Kinect has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 6 years. World Kinect has a dividend payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect World Kinect to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 25.9%.

World Kinect Stock Up 1.2%

WKC opened at $24.03 on Friday. World Kinect has a 12 month low of $22.70 and a 12 month high of $31.54. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $25.04 and its 200-day moving average price is $26.50. The company has a market cap of $1.33 billion, a P/E ratio of -3.10, a P/E/G ratio of 1.24 and a beta of 1.15.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.07). The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.38 billion. World Kinect had a positive return on equity of 7.11% and a negative net margin of 1.16%.World Kinect’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, equities analysts expect that World Kinect will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on WKC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of World Kinect in a research note on Monday, November 24th. Zacks Research lowered shares of World Kinect from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, World Kinect presently has a consensus rating of “Reduce” and an average target price of $28.75.

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.