Market Overview

UPDATE: Bank Of America Reiterates On World Fuel Services Following 2Q14 EPS Report

Share:

In a report published Thursday, Bank of America analyst Ken Hoexter reiterated a Neutral rating on World Fuel Services (NYSE: INT), and raised the price target from $49.00 to $51.00.

In the report, Bank of America noted, “World Fuel Services posted adjusted 2Q14 EPS of $0.72, up 1% year-over-year, and above our and consensus' $0.70 target. Gross revenues were $11.3 billion, up 8% year-over-year, but $1.7 billion lower than our target. Gross profit was $192 million, up 2% year-over-year, and $3 million below our target as Net Margins where strong. Net Margin at each segment topped our targets, led by Aviation (1.8% vs. our 1.7%), Marine (1.4% vs. our 1.3%), and Land (1.8% vs. our 1.5%), as fuel prices were lower but per gallon profits held firm. Operating Income was $60 million, $3 million shy of our target, while below the line expenses were lower than targets, leading to the modest EPS beat.”

World Fuel Services closed on Wednesday at $47.36.

Latest Ratings for INT

DateFirmActionFromTo
Mar 2019UpgradesNeutralBuy
Jul 2018MaintainsUnderperformUnderperform
Feb 2018MaintainsBuyBuy

View More Analyst Ratings for INT
View the Latest Analyst Ratings

Posted-In: Bank of America Ken HoexterAnalyst Color Price Target Analyst Ratings

 

Related Articles (INT)

View Comments and Join the Discussion!

Morning Market Losers

3D Printing Stocks Fall Amid 3D Systems Q2 Earnings Miss