World Kinect (NYSE:WKC) Sees Large Volume Increase – Should You Buy?

World Kinect Corporation (NYSE:WKC) saw unusually-high trading volume on Thursday . Approximately 1,808,108 shares were traded during mid-day trading, an increase of 148% from the previous session’s volume of 728,201 shares.The stock last traded at $23.79 and had previously closed at $23.55.

Wall Street Analyst Weigh In

WKC has been the topic of several recent research reports. Zacks Research lowered World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of World Kinect in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $28.75.

World Kinect Stock Up 0.6%

The firm’s 50 day simple moving average is $24.68 and its 200 day simple moving average is $26.27. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -3.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.15. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

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

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, December 15th. World Kinect’s dividend payout ratio (DPR) is presently -10.34%.

Institutional Trading of World Kinect

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. increased its holdings in shares of World Kinect by 188.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares during the period. Clearstead Advisors LLC lifted its position in shares of World Kinect by 52.8% in the 3rd quarter. Clearstead Advisors LLC now owns 1,261 shares of the company’s stock worth $33,000 after acquiring an additional 436 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of World Kinect by 282.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,286 shares of the company’s stock worth $33,000 after acquiring an additional 950 shares during the period. Quarry LP bought a new position in shares of World Kinect during the 1st quarter worth approximately $38,000. Finally, GAMMA Investing LLC grew its holdings in shares of World Kinect by 27.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock worth $45,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

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.