World Fuel Services (INT) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research lowered shares of World Fuel Services (NYSE:INT) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “World Fuel Services Corporation is a global energy management company involved in providing supply fulfillment, energy procurement advisory services, and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. “

Several other brokerages have also recently issued reports on INT. Seaport Global Securities restated a neutral rating on shares of World Fuel Services in a report on Friday, February 22nd. ValuEngine upgraded shares of World Fuel Services from a sell rating to a hold rating in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, two have issued 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 price target of $32.67.

Shares of NYSE INT traded up $0.59 on Thursday, reaching $30.62. 12,634 shares of the company’s stock traded hands, compared to its average volume of 464,547. World Fuel Services has a 12 month low of $19.78 and a 12 month high of $33.17. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.36.

World Fuel Services (NYSE:INT) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.17. World Fuel Services had a net margin of 0.35% and a return on equity of 8.41%. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $9.98 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, analysts forecast that World Fuel Services will post 2.33 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Thursday, March 21st. World Fuel Services’s dividend payout ratio is presently 11.37%.

Several institutional investors have recently modified their holdings of INT. Victory Capital Management Inc. bought a new stake in World Fuel Services in the 1st quarter valued at $315,000. River Road Asset Management LLC grew its stake in shares of World Fuel Services by 8.8% in the 1st quarter. River Road Asset Management LLC now owns 1,100,677 shares of the oil and gas company’s stock worth $31,799,000 after buying an additional 89,283 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of World Fuel Services by 3.7% in the 1st quarter. Texas Permanent School Fund now owns 45,609 shares of the oil and gas company’s stock worth $1,318,000 after buying an additional 1,614 shares in the last quarter. Rhumbline Advisers grew its stake in shares of World Fuel Services by 0.5% in the 1st quarter. Rhumbline Advisers now owns 209,518 shares of the oil and gas company’s stock worth $6,053,000 after buying an additional 1,031 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in shares of World Fuel Services in the 1st quarter worth $586,000. Institutional investors and hedge funds own 92.71% of the company’s stock.

About World Fuel Services

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 supplies fuel, and related products and services to commercial airlines, second and third tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft, military fleets, the U.S.

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