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World Kinect gets equal-weight rating at Morgan Stanley

Published Nov 08, 2023 01:46
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World Kinect, a global energy firm, has been rated Equal-Weight by Morgan Stanley (NYSE:MS) on Monday, with a one-year price target set at $28.90. This indicates a potential rise of 42.79% from the closing price of $20.24 on the same day. The projected annual revenue and non-GAAP EPS are 52,942MM (up by 6.77%) and 2.18 respectively.

The company held its quarterly dividend steady at $0.14 per share on September 21, yielding a current rate of 2.77%. This is 1.13 standard deviations above the historical average, indicating an attractive return for investors. The dividend payout ratio stands at 0.31, with a three-year growth rate of 0.40%.

Institutional ownership in World Kinect saw changes last quarter, with an average portfolio weight of 0.13% in WKC and total institutional shares amounting to 66,027K. Among the 523 institutional shareholders are notable names such as IJR - iShares Core S&P Small-Cap ETF, Invesco, Boston Partners, Vanguard Total Stock Market Index Fund Investor Shares, and RWJ - Invesco S&P SmallCap 600 Revenue ETF.

The bearish put/call ratio is currently at 9.29, suggesting that investors are preparing for potential downside risk in the stock's future performance. However, the strong financial forecasts and growing institutional interest could provide some balance to these market sentiments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

World Kinect gets equal-weight rating at Morgan Stanley
 

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