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

World Kinect Co. (NYSE:WKC) announced a quarterly dividend on Friday, March 14th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.17 per share on Wednesday, April 16th. This represents a $0.68 dividend on an annualized basis and a yield of 2.43%.

World Kinect has increased its dividend by an average of 12.3% annually over the last three years. World Kinect has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

WKC traded up $0.53 during midday trading on Friday, reaching $27.96. 859,104 shares of the company’s stock were exchanged, compared to its average volume of 680,701. World Kinect has a one year low of $21.38 and a one year high of $31.71. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The business has a 50-day simple moving average of $28.31 and a two-hundred day simple moving average of $28.63. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total transaction of $622,842.72. Following the sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at $29,512,064.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

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.