World Kinect (NYSE:WKC) Shares Gap Up Following Better-Than-Expected Earnings

World Kinect Corporation (NYSE:WKC)’s stock price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $23.54, but opened at $28.75. World Kinect shares last traded at $26.5970, with a volume of 259,447 shares trading hands.

The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The business had revenue of $9.69 billion during the quarter, compared to the consensus estimate of $9.29 billion. World Kinect had a negative net margin of 1.66% and a positive return on equity of 6.62%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Monday, March 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, March 30th. World Kinect’s dividend payout ratio (DPR) is currently -7.22%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of World Kinect from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Weiss Ratings restated a “sell (d)” rating on shares of World Kinect in a report on Monday, December 29th. Finally, Morgan Stanley dropped their target price on shares of World Kinect from $27.00 to $25.00 and set an “underweight” rating for the company in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, World Kinect has a consensus rating of “Reduce” and an average price target of $28.00.

Institutional Investors Weigh In On World Kinect

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of World Kinect by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company’s stock worth $157,297,000 after purchasing an additional 62,111 shares during the last quarter. Brandes Investment Partners LP boosted its stake in shares of World Kinect by 30.9% during the 4th quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company’s stock worth $90,106,000 after purchasing an additional 907,490 shares during the last quarter. Invesco Ltd. boosted its stake in shares of World Kinect by 9.5% during the 3rd quarter. Invesco Ltd. now owns 2,450,762 shares of the company’s stock worth $63,597,000 after purchasing an additional 213,145 shares during the last quarter. LSV Asset Management boosted its stake in shares of World Kinect by 11.4% during the 4th quarter. LSV Asset Management now owns 1,938,804 shares of the company’s stock worth $45,426,000 after purchasing an additional 198,076 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of World Kinect by 373.8% during the 3rd quarter. Millennium Management LLC now owns 1,602,996 shares of the company’s stock worth $41,598,000 after purchasing an additional 1,264,684 shares during the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Price Performance

The company’s 50 day simple moving average is $23.97 and its 200-day simple moving average is $24.81. The company has a current ratio of 1.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -2.37, a PEG ratio of 0.61 and a beta of 1.11.

About World Kinect

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.