World Fuel Services Corp (INT) Expected to Announce Earnings of $0.45 Per Share

Brokerages expect World Fuel Services Corp (NYSE:INT) to announce earnings of $0.45 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for World Fuel Services’ earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.41. World Fuel Services reported earnings of $0.50 per share in the same quarter last year, which would indicate a negative year over year growth rate of 10%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 26th.

On average, analysts expect that World Fuel Services will report full-year earnings of $1.98 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $2.03. For the next year, analysts anticipate that the business will report earnings of $2.32 per share, with EPS estimates ranging from $2.25 to $2.41. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow World Fuel Services.

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World Fuel Services (NYSE:INT) last issued its earnings results on Thursday, April 26th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.12 billion. World Fuel Services had a negative net margin of 0.49% and a positive return on equity of 6.83%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share.

INT has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of World Fuel Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 1st. TheStreet lowered shares of World Fuel Services from a “c-” rating to a “d+” rating in a research note on Friday, February 23rd. Stifel Nicolaus lowered their target price on shares of World Fuel Services from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Finally, ValuEngine lowered shares of World Fuel Services from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $38.00.

In other World Fuel Services news, Director Jorge L. Benitez acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The stock was bought at an average cost of $21.58 per share, with a total value of $107,900.00. Following the completion of the purchase, the director now directly owns 50,072 shares in the company, valued at $1,080,553.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP purchased a new stake in World Fuel Services in the fourth quarter worth about $6,765,000. Kestrel Investment Management Corp purchased a new stake in World Fuel Services in the first quarter worth about $7,460,000. Arizona State Retirement System lifted its stake in World Fuel Services by 25.2% in the fourth quarter. Arizona State Retirement System now owns 48,666 shares of the oil and gas company’s stock worth $1,369,000 after acquiring an additional 9,798 shares during the period. Artisan Partners Limited Partnership lifted its stake in World Fuel Services by 4.1% in the first quarter. Artisan Partners Limited Partnership now owns 3,152,080 shares of the oil and gas company’s stock worth $77,384,000 after acquiring an additional 123,406 shares during the period. Finally, Systematic Financial Management LP lifted its stake in World Fuel Services by 24.2% in the fourth quarter. Systematic Financial Management LP now owns 55,245 shares of the oil and gas company’s stock worth $1,555,000 after acquiring an additional 10,780 shares during the period. 92.36% of the stock is owned by institutional investors.

Shares of INT traded up $0.27 during trading hours on Monday, reaching $22.63. 7,034,102 shares of the company traded hands, compared to its average volume of 947,995. The firm has a market capitalization of $1.51 billion, a P/E ratio of 12.17, a P/E/G ratio of 2.26 and a beta of 0.91. World Fuel Services has a 12-month low of $20.60 and a 12-month high of $40.16. The company has a current ratio of 1.41, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 6th. Investors of record on Friday, June 8th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, June 7th. World Fuel Services’s dividend payout ratio (DPR) is presently 12.90%.

World Fuel Services Company Profile

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.

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Why PTC Therapeutics Dropped 30.6% Today After Jumping 27.5% Yesterday

What

In biotech, what goes around comes around.

Yesterday,�PTC Therapeutics (NASDAQ:PTCT) jumped 27.5% following positive data for its spinal muscular atrophy drug, risdiplam, which sent shares of competitors Biogen and Ionis Pharmaceuticals�down on the news.

Today, it was PTC Therapeutics' turn to take a hit, falling 30.6% today, after competitor Sarepta Therapeutics (NASDAQ:SRPT) presented data for its gene therapy to treat Duchenne muscular dystrophy (DMD).

Image source: Getty Images.

So what

The first three patients treated�with Sarepta's gene therapy, which goes by the convoluted codename AAVrh74.MHCK7.micro-Dystrophin, produced expression of micro-dystrophin in 76.2% of fibers with a mean intensity of the fibers of 74.5% compared to normal control.

There wasn't any functional efficacy data presented, but the amount of serum creatine kinase, a measurement of muscle damage that occurs in DMD patients, was reduced by an average of over 87%, suggesting that the expression of micro-dystrophin was compensating for the mutant copy in the patients.

PTC has two drugs�approved for patients with DMD -- Emflaza, a steroid that's approved in the U.S., and Translarna, which treats a subset of DMD patients with a certain type of mutation in the EU -- so it's understandable how investors could be worried about a new competitor.

However, unless Sarepta's gene therapy fully compensates for the lack of dystrophin production in DMD patients, it's likely that patients would continue to take Emflaza and/or Translarna after being treated with the gene therapy. Given the different mechanisms of action, it's quite possible the treatments would have additive effects bringing the patients closer to fully functioning.

Now what

Today's move seems like a bit of an overreaction given the limited data available for Sarepta's therapy and the possibility that it could be approved in a few years and still not hamper PTC's sales.