World Fuel Services (NYSE:INT) Lifted to Hold at Zacks Investment Research

World Fuel Services (NYSE:INT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, December 26th.

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. “

Separately, Bank of America lowered World Fuel Services from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $41.00 to $36.00 in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. World Fuel Services has a consensus rating of “Hold” and a consensus target price of $36.00.

Shares of World Fuel Services (NYSE INT) opened at $28.88 on Tuesday. The stock has a market capitalization of $1,930.00, a P/E ratio of 82.51, a PEG ratio of 2.13 and a beta of 0.93. World Fuel Services has a twelve month low of $25.80 and a twelve month high of $46.37. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.58.

World Fuel Services (NYSE:INT) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. World Fuel Services had a return on equity of 5.54% and a net margin of 0.08%. The business had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.19 billion. During the same period in the prior year, the firm earned $0.82 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. equities research analysts predict that World Fuel Services will post 2.21 earnings per share for the current fiscal year.

World Fuel Services declared that its board has initiated a share repurchase program on Wednesday, October 4th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas grew its position in shares of World Fuel Services by 0.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 5,645 shares of the oil and gas company’s stock worth $217,000 after buying an additional 49 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in World Fuel Services by 1.5% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 12,227 shares of the oil and gas company’s stock valued at $581,000 after purchasing an additional 175 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in World Fuel Services by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 101,531 shares of the oil and gas company’s stock valued at $3,903,000 after purchasing an additional 425 shares in the last quarter. Victory Capital Management Inc. boosted its position in World Fuel Services by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,789 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 567 shares in the last quarter. Finally, Comerica Bank boosted its position in World Fuel Services by 1.3% during the second quarter. Comerica Bank now owns 60,908 shares of the oil and gas company’s stock valued at $2,380,000 after purchasing an additional 783 shares in the last quarter. 88.96% of the stock is currently owned by institutional investors and hedge funds.

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About World Fuel Services

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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