World Fuel Services (NYSE:INT) Issues Earnings Results, Beats Estimates By $0.01 EPS

Financial News Live · Apr 29, 2023 10:33

World Fuel Services (NYSE:INT – Get Rating) released its quarterly earnings data on Thursday. The oil and gas company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.01, RTT News reports. World Fuel Services had a return on equity of 6.35% and a net margin of 0.19%. The firm had revenue of $12.48 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share.

World Fuel Services Stock Performance

INT stock traded down $0.46 during midday trading on Friday, hitting $23.64. 547,342 shares of the company traded hands, compared to its average volume of 350,939. World Fuel Services has a twelve month low of $19.29 and a twelve month high of $30.65. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.42. The business has a 50 day simple moving average of $25.76 and a 200-day simple moving average of $26.90. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 2.23 and a beta of 1.27.

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World Fuel Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Thursday, April 6th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, April 5th. This represents a $0.56 annualized dividend and a yield of 2.37%. World Fuel Services's dividend payout ratio (DPR) is presently 30.94%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com assumed coverage on World Fuel Services in a report on Thursday, March 16th. They issued a "hold" rating on the stock. TheStreet upgraded World Fuel Services from a "c+" rating to a "b-" rating in a report on Thursday.

Institutional Investors Weigh In On World Fuel Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its stake in shares of World Fuel Services by 1,982.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,395 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 1,328 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of World Fuel Services by 1,515.1% in the first quarter. Lazard Asset Management LLC now owns 2,358 shares of the oil and gas company's stock worth $63,000 after acquiring an additional 2,212 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of World Fuel Services by 18.3% in the second quarter. Captrust Financial Advisors now owns 2,708 shares of the oil and gas company's stock worth $56,000 after acquiring an additional 419 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of World Fuel Services in the fourth quarter worth $86,000. Finally, PNC Financial Services Group Inc. lifted its position in World Fuel Services by 125.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,155 shares of the oil and gas company's stock worth $140,000 after purchasing an additional 2,870 shares during the period. Institutional investors and hedge funds own 90.79% of the company's stock.

World Fuel Services Company Profile

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World Fuel Services Corp. engages in the distribution of fuel and related products and services in the aviation, marine, and land transportation industries. It operates through the following segments: Aviation, Land, and Marine. The Aviation segment supply fuel and service solutions to commercial airlines, second and third-tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, fractional operators, and private aircraft.