World Kinect Co. (WKC) to Distribute Quarterly Dividend of $0.17 on April 16th

World Kinect Co. (NYSE:WKC) declared a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders 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 annualized dividend and a dividend 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. 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 Up 1.9 %

WKC stock opened at $27.96 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.59 billion, a PE ratio of 26.37, a PEG ratio of 0.89 and a beta of 1.16. World Kinect has a 1-year low of $21.38 and a 1-year high of $31.71. The business’s 50 day simple moving average is $28.32 and its 200 day simple moving average is $28.63.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 anticipate that World Kinect will post 2.56 EPS for the current year.

Insider Activity at World Kinect

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

Wall Street Analysts Forecast Growth

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