BidaskClub Upgrades World Fuel Services Corporation (INT) to “Buy”
World Fuel Services Corporation (NYSE:INT) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Sunday.
Other analysts have also issued reports about the company. TheStreet lowered World Fuel Services Corporation from a “b” rating to a “c” rating in a research note on Friday, May 5th. Zacks Investment Research upgraded World Fuel Services Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th.
Shares of World Fuel Services Corporation (NYSE:INT) traded up 0.72% on Friday, reaching $38.97. The company’s stock had a trading volume of 256,506 shares. World Fuel Services Corporation has a 52-week low of $34.64 and a 52-week high of $48.57. The stock has a market cap of $2.69 billion, a P/E ratio of 25.67 and a beta of 0.97. The firm’s 50 day moving average is $36.49 and its 200-day moving average is $39.33.
World Fuel Services Corporation (NYSE:INT) last issued its earnings results on Thursday, April 27th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.07. The firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $7.83 billion. World Fuel Services Corporation had a net margin of 0.35% and a return on equity of 5.41%. The business’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, equities research analysts forecast that World Fuel Services Corporation will post $2.60 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 9th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, June 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.62%. World Fuel Services Corporation’s payout ratio is 15.79%.
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In related news, Director Myles Klein sold 13,000 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $36.53, for a total transaction of $474,890.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert Alexander Lake sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $37.83, for a total value of $56,745.00. Following the sale, the executive vice president now owns 48,137 shares in the company, valued at $1,821,022.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,335 shares of company stock worth $788,467. 2.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in World Fuel Services Corporation by 5,327.4% in the first quarter. BlackRock Inc. now owns 5,998,492 shares of the oil and gas company’s stock worth $217,445,000 after buying an additional 5,887,970 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in World Fuel Services Corporation during the first quarter worth about $97,794,000. Norges Bank bought a new stake in World Fuel Services Corporation during the fourth quarter worth about $30,582,000. Dimensional Fund Advisors LP raised its stake in World Fuel Services Corporation by 37.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,729,695 shares of the oil and gas company’s stock worth $62,700,000 after buying an additional 473,847 shares during the last quarter. Finally, Boston Partners raised its stake in World Fuel Services Corporation by 25.1% in the first quarter. Boston Partners now owns 2,343,605 shares of the oil and gas company’s stock worth $84,955,000 after buying an additional 470,306 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.
About World Fuel Services Corporation
World Fuel Services Corporation is engaged in providing aviation, marine and land energy, logistics and technology solutions to customers and suppliers around the world. The Company operates through three segments: Aviation, Marine and Land. In its Aviation segment, the Company offers fuel and related products and services.
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