The stock of World Kinect Corp (NYSE: WKC) has increased by 0.95 when compared to last closing price of 26.22. Despite this, the company has experienced a -14.67% fall in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-24 that World Kinect Corporation (NYSE:WKC ) Q3 2024 Results Earnings Conference Call October 25, 2024 5:00 PM ET Company Participants Braulio Medrano – Senior Director, FP&A and Investor Relations Michael Kasbar – Chairman and Chief Executive Officer Ira Birns – Executive Vice President and Chief Financial Officer Conference Call Participants Ken Hoexter – Bank of America Securities John Royall – J.P. Morgan Pavel Molchanov – Raymond James Ben Nolan – Stifel Operator Thank you for standing by, and welcome to World Kinect Corporation’s Third Quarter 2024 Earnings Conference Call.
Is It Worth Investing in World Kinect Corp (NYSE: WKC) Right Now?
The price-to-earnings ratio for World Kinect Corp (NYSE: WKC) is above average at 11.78x. The 36-month beta value for WKC is also noteworthy at 1.25. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 2 rating it as “hold,” and 1 rating it as “sell.”
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The public float for WKC is 56.15M, and at present, short sellers hold a 9.87% of that float. The average trading volume of WKC on October 31, 2024 was 905.29K shares.
WKC’s Market Performance
WKC stock saw a decrease of -14.67% in the past week, with a monthly decline of -14.03% and a quarterly a decrease of -3.96%. The volatility ratio for the week is 4.46%, and the volatility levels for the last 30 days are 2.61% for World Kinect Corp (WKC). The simple moving average for the past 20 days is -11.63% for WKC’s stock, with a 0.83% simple moving average for the past 200 days.
Analysts’ Opinion of WKC
Many brokerage firms have already submitted their reports for WKC stocks, with Stifel repeating the rating for WKC by listing it as a “Hold.” The predicted price for WKC in the upcoming period, according to Stifel is $32 based on the research report published on October 25, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see WKC reach a price target of $28. The rating they have provided for WKC stocks is “Underweight” according to the report published on September 16th, 2024.
JP Morgan gave a rating of “Neutral” to WKC, setting the target price at $25 in the report published on February 21st of the current year.
WKC Trading at -10.37% from the 50-Day Moving Average
After a stumble in the market that brought WKC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.51% of loss for the given period.
Volatility was left at 2.61%, however, over the last 30 days, the volatility rate increased by 4.46%, as shares sank -14.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.61% lower at present.
During the last 5 trading sessions, WKC fell by -14.67%, which changed the moving average for the period of 200-days by +21.53% in comparison to the 20-day moving average, which settled at $29.95. In addition, World Kinect Corp saw 16.20% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at WKC starting from KASSAR RICHARD A, who proposed sale 20,000 shares at the price of $26.10 back on Oct 30 ’24. After this action, KASSAR RICHARD A now owns shares of World Kinect Corp, valued at $522,000 using the latest closing price.
KASBAR MICHAEL J, the Chairman, CEO and President of World Kinect Corp, sale 58,948 shares at $27.92 during a trade that took place back on Aug 19 ’24, which means that KASBAR MICHAEL J is holding 1,019,063 shares at $1,645,828 based on the most recent closing price.
Stock Fundamentals for WKC
Current profitability levels for the company are sitting at:
- 0.0 for the present operating margin
- 0.02 for the gross margin
The net margin for World Kinect Corp stands at 0.0. The total capital return value is set at 0.03. Equity return is now at value 6.70, with 1.86 for asset returns.
Based on World Kinect Corp (WKC), the company’s capital structure generated 0.3 points at debt to capital in total, while cash flow to debt ratio is standing at 0.08. The debt to equity ratio resting at 0.43. The interest coverage ratio of the stock is 7.12.
Currently, EBITDA for the company is 346.7 million with net debt to EBITDA at 2.78. When we switch over and look at the enterprise to sales, we see a ratio of 0.05. The receivables turnover for the company is 17.9for trailing twelve months and the total asset turnover is 6.35. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.16.
Conclusion
In summary, World Kinect Corp (WKC) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
