World Kinect Co. Declares Quarterly Dividend of $0.17 (NYSE:WKC)

World Kinect Co. (NYSE:WKC) announced a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.17 per share on Wednesday, April 16th. This represents a $0.68 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Monday, March 31st.

World Kinect has raised its dividend payment by an average of 12.3% annually over the last three years. World Kinect has a dividend payout ratio of 22.4% indicating that 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 $0.68 annual dividend with an expected future payout ratio of 22.0%.

World Kinect Stock Performance

World Kinect stock opened at $28.52 on Friday. World Kinect has a fifty-two week low of $21.38 and a fifty-two week high of $31.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The stock has a market cap of $1.62 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The firm’s fifty day moving average price is $28.50 and its 200-day moving average price is $28.65.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $10.57 billion. On average, equities research analysts expect that World Kinect will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total value of $622,842.72. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus cut their target price on World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.80.

About World Kinect

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.