World Fuel Services (INT) Trading 7.1% Higher on Earnings Beat

World Fuel Services Corp (NYSE:INT) traded up 7.1% during trading on Friday following a stronger than expected earnings report. The company traded as high as $29.43 and last traded at $28.79. 987,361 shares traded hands during trading, an increase of 32% from the average session volume of 745,610 shares. The stock had previously closed at $26.87.

The oil and gas company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.07. World Fuel Services had a negative net margin of 0.47% and a positive return on equity of 6.90%. The firm had revenue of $10.43 billion for the quarter, compared to analysts’ expectations of $10.47 billion.

The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 21st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, September 20th. World Fuel Services’s dividend payout ratio is 12.90%.



Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of World Fuel Services from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research raised shares of World Fuel Services from a “strong sell” rating to a “hold” rating in a report on Thursday, June 28th. TheStreet raised shares of World Fuel Services from a “d+” rating to a “c-” rating in a report on Tuesday, September 25th. Finally, Bank of America reduced their target price on shares of World Fuel Services from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. World Fuel Services presently has an average rating of “Hold” and a consensus target price of $31.67.

A number of institutional investors have recently added to or reduced their stakes in INT. Millennium Management LLC increased its holdings in World Fuel Services by 674.2% in the 1st quarter. Millennium Management LLC now owns 946,510 shares of the oil and gas company’s stock worth $23,237,000 after acquiring an additional 824,246 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in World Fuel Services by 1.3% during the 1st quarter. Allianz Asset Management GmbH now owns 343,252 shares of the oil and gas company’s stock valued at $8,427,000 after buying an additional 4,518 shares in the last quarter. Hartford Investment Management Co. purchased a new stake in World Fuel Services during the 2nd quarter valued at approximately $222,000. River Road Asset Management LLC grew its holdings in World Fuel Services by 109.2% during the 2nd quarter. River Road Asset Management LLC now owns 907,052 shares of the oil and gas company’s stock valued at $18,513,000 after buying an additional 473,522 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in World Fuel Services by 55.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 355,110 shares of the oil and gas company’s stock valued at $7,248,000 after buying an additional 126,380 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

The company has a current ratio of 1.35, a quick ratio of 1.17 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.87 billion, a PE ratio of 15.48, a P/E/G ratio of 2.75 and a beta of 1.21.

About World Fuel Services (NYSE:INT)

World Fuel Services Corporation engages in the distribution of fuel, and related products and services in the aviation, marine, and land transportation industries worldwide. Its Aviation segment offers fuel management; price risk management; ground handling; dispatch; and international trip planning services, such as flight plans, weather reports, and overflight permits.

Read More: How a Put Option Works

Receive News & Ratings for World Fuel Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Fuel Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply