World Fuel Services Corp. (INT) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “World Fuel Services Corporation markets aviation and marine fuel services. In their aviation fuel services business, World Fuel extends credit and provides around-the-world single-supplier convenience, 24-hour service, and competitively-priced aviation fuel and other aviation related services, including fuel management services, to passenger, cargo and charter airlines. World Fuel also offers flight plans and weather reports to their corporate customers. “
Separately, Stifel Nicolaus began coverage on World Fuel Services Corp. in a research note on Tuesday, August 23rd. They set a hold rating on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. World Fuel Services Corp. has a consensus rating of Hold and an average target price of $50.00.
Shares of World Fuel Services Corp. (NYSE:INT) opened at 46.72 on Wednesday. The stock has a 50 day moving average price of $45.34 and a 200 day moving average price of $46.50. World Fuel Services Corp. has a 12-month low of $35.13 and a 12-month high of $51.01. The firm has a market cap of $3.29 billion, a P/E ratio of 17.41 and a beta of 1.23.
World Fuel Services Corp. (NYSE:INT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. World Fuel Services Corp. had a return on equity of 11.25% and a net margin of 0.70%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business’s revenue for the quarter was down 21.9% compared to the same quarter last year. On average, equities analysts expect that World Fuel Services Corp. will post $2.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Friday, September 23rd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. World Fuel Services Corp.’s dividend payout ratio (DPR) is presently 9.13%.
In other news, SVP Carlos M. Velazquez sold 599 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $45.21, for a total transaction of $27,080.79. Following the transaction, the senior vice president now directly owns 7,094 shares in the company, valued at approximately $320,719.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Kasbar sold 25,950 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $46.38, for a total value of $1,203,561.00. Following the transaction, the chief executive officer now owns 832,581 shares in the company, valued at $38,615,106.78. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Weaver C. Barksdale & Associates Inc. raised its position in shares of World Fuel Services Corp. by 8.8% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 2,830 shares of the company’s stock valued at $134,000 after buying an additional 228 shares during the period. LS Investment Advisors LLC raised its position in shares of World Fuel Services Corp. by 72.6% in the second quarter. LS Investment Advisors LLC now owns 4,226 shares of the company’s stock valued at $201,000 after buying an additional 1,777 shares during the period. Breton Hill Capital Ltd. purchased a new position in shares of World Fuel Services Corp. during the second quarter valued at approximately $204,000. Kalos Management Inc. bought a new stake in shares of World Fuel Services Corp. during the second quarter valued at $207,000. Finally, Stevens Capital Management LP bought a new stake in shares of World Fuel Services Corp. during the second quarter valued at $222,000. Hedge funds and other institutional investors own 88.41% of the company’s stock.
About World Fuel Services Corp.
World Fuel Services Corporation is a fuel logistics, transaction management and payment processing company. The Company operates through three segments: aviation, marine and land. The aviation segment offers fuel and related services to commercial airlines second and third-tier airlines, cargo carriers, regional carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft and military fleets.
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