Fintel reports that on Feb 21, 2024, JP Morgan initiated coverage of World Kinect (NYSE:WKC) with Neutral recommendation
Analysis Price Forecast Suggests 17.86% Up
As of January 19, 2024, the average one-year price target for World Kinect is 28.05. The forecasts range from a low of 21.21 to a high of $36.75. The average price target represents a 17.86% increase from its last reported close price of 23.80.
See our leaderboard of companies with the largest price target.
The projected annual revenue for World Kinect is 49,531MM, a decrease of 0.11%. The projected annual non-GAAP EPS is 2.55.
World Kinect Declares $0.14 Dividend
On December 7, 2023 the company declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Shareholders registered on December 18, 2023 received the payment on January 16, 2024. Previously, the company paid $0.14 per share.
At the current share price of $23.80/share, the stock’s dividend yield is 2.35%.
Looking back five years and taking a sample each week, the average dividend yield was 2.58%, the lowest was 2.35%, and the highest was 3.06%. The standard deviation of returns is 0.15 (n=29).
The current dividend yield is 1.48 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.31. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid out in dividends. A payout ratio greater than one means the company is dipping into savings to maintain its dividend — not a healthy situation. Companies with few growth prospects are expected to pay out most of their earnings in dividends, which usually means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.40%, demonstrating that it has increased its dividend over time.
What is the Basic Sense?
There are 532 funds or institutions reporting positions in World Kinect. This is an increase of 3 owner(s) or 0.57% in the last quarter. Average portfolio weight of all funds dedicated to WKC is 0.12%, a decrease of 6.69%. Total shares owned by institutions increased in the last three months by 2.47% to 69,949K shares. WKC’s put/call ratio is 11.39, indicating a bearish outlook.
What Are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 4,065K shares representing 6.75% ownership of the company. In its previous filing, the company reported owning 4,376K shares, representing decline of 7.63%. The company increased its portfolio allocation in WKC by 4.54% during the last quarter.
Invesco holds 3,267K shares representing 5.43% ownership of the company. In its previous filing, the company reported owning 3,503K shares, representing decline of 7.23%. The company decreased its portfolio allocation in WKC by 92.37% during the last quarter.
RWJ – Invesco S&P SmallCap 600 Revenue ETF holds 2,670K shares representing 4.43% ownership of the company. In its previous filing, the company reported owning 2,697K shares, representing decline of 1.03%. The company decreased its portfolio allocation in WKC by 1.97% during the last quarter.
Brandes Investment Partners holds 2,521K shares representing 4.19% ownership of the company. In its previous filing, the company reported owning 1,523K shares, representing an increase of 39.59%. The company decreased its portfolio allocation in WKC by 26.83% during the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,831K shares representing 3.04% ownership of the company. In its previous filing, the company reported owning 1,829K shares, representing an increase of 0.10%. The company increased its portfolio allocation in WKC by 12.69% during the last quarter.
World Kinect Background Information
(This description is provided by the company.)
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial clients, primarily in the aviation, marine and land transportation industries. World Fuel Services sells fuel and provides services to its customers at more than 8,000 locations in more than 200 countries and territories worldwide.
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This story originally appeared on Fintel.
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