World Fuel Services Corp (NYSE:INT) Sees Significant Growth in Short Interest
World Fuel Services Corp (NYSE:INT) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,458,100 shares, an increase of 6.7% from the July 31st total of 1,367,000 shares. Based on an average daily trading volume, of 541,600 shares, the short-interest ratio is currently 2.7 days. Approximately 2.3% of the shares of the stock are short sold.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of World Fuel Services from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Wednesday, July 3rd. TheStreet raised shares of World Fuel Services from a “c+” rating to a “b-” rating in a research note on Tuesday, July 16th. ValuEngine cut shares of World Fuel Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price objective on shares of World Fuel Services from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $42.67.
In other World Fuel Services news, Director Richard A. Kassar sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $37.92, for a total transaction of $189,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Alexander Lake sold 4,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $38.96, for a total transaction of $175,320.00. Following the transaction, the executive vice president now directly owns 50,122 shares in the company, valued at approximately $1,952,753.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,500 shares of company stock worth $853,150. 2.40% of the stock is owned by corporate insiders.
Shares of INT traded down $0.79 during mid-day trading on Friday, hitting $39.83. The company’s stock had a trading volume of 446,619 shares, compared to its average volume of 394,825. The firm has a 50-day moving average price of $38.34 and a 200 day moving average price of $33.24. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.41 and a beta of 1.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.35 and a quick ratio of 1.16. World Fuel Services has a fifty-two week low of $19.81 and a fifty-two week high of $41.34.
World Fuel Services (NYSE:INT) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.77 billion. World Fuel Services had a net margin of 0.38% and a return on equity of 8.76%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. As a group, equities analysts anticipate that World Fuel Services will post 2.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. World Fuel Services’s dividend payout ratio is currently 18.96%.
World Fuel Services Company Profile
World Fuel Services Corporation engages in the distribution of fuel, and related products and services in the aviation, marine, and land transportation industries worldwide. Its Aviation segment supplies fuel, and related products and services to commercial airlines, second and third tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft, military fleets, the U.S.
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