Equities analysts expect Worthington Industries, Inc. (NYSE:WOR) to post $0.58 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Worthington Industries’ earnings. The highest EPS estimate is $0.61 and the lowest is $0.52. Worthington Industries also posted earnings per share of $0.58 during the same quarter last year. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, December 17th.
According to Zacks, analysts expect that Worthington Industries will report full year earnings of $2.77 per share for the current year, with EPS estimates ranging from $2.48 to $3.05. For the next fiscal year, analysts anticipate that the business will report earnings of $3.30 per share, with EPS estimates ranging from $2.70 to $3.89. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Worthington Industries.
Worthington Industries (NYSE:WOR) last released its earnings results on Wednesday, September 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.10). The firm had revenue of $855.86 million for the quarter, compared to analyst estimates of $924.00 million. Worthington Industries had a net margin of 2.58% and a return on equity of 15.28%. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS.
Several equities research analysts have recently issued reports on the company. TheStreet lowered Worthington Industries from a “b-” rating to a “c” rating in a research report on Wednesday, September 25th. Zacks Investment Research upgraded Worthington Industries from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 28th. Exane BNP Paribas started coverage on Worthington Industries in a research note on Thursday, November 14th. They set a “neutral” rating and a $38.00 target price on the stock. Finally, ValuEngine raised Worthington Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st.
Shares of WOR traded down $0.04 during trading hours on Tuesday, reaching $40.10. The stock had a trading volume of 146,933 shares, compared to its average volume of 220,192. The company has a current ratio of 2.13, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. The firm has a 50-day simple moving average of $37.76 and a 200 day simple moving average of $37.20. Worthington Industries has a 12 month low of $31.42 and a 12 month high of $41.52. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 14.48 and a beta of 1.18.
The business also recently announced a — dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.24 dividend. This represents a yield of 2.7%. The ex-dividend date of this dividend is Thursday, December 12th. Worthington Industries’s dividend payout ratio (DPR) is 34.66%.
In other Worthington Industries news, insider Jeffrey R. Klingler sold 961 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.46, for a total value of $36,960.06. Following the sale, the insider now directly owns 5,307 shares of the company’s stock, valued at $204,107.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 34.80% of the company’s stock.
Several large investors have recently made changes to their positions in WOR. Nuveen Asset Management LLC bought a new position in shares of Worthington Industries during the second quarter valued at $17,073,000. UBS Group AG lifted its holdings in shares of Worthington Industries by 414.4% during the second quarter. UBS Group AG now owns 246,849 shares of the industrial products company’s stock valued at $9,938,000 after purchasing an additional 198,857 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Worthington Industries by 412.3% during the second quarter. Morgan Stanley now owns 198,604 shares of the industrial products company’s stock valued at $7,996,000 after purchasing an additional 159,837 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Worthington Industries by 6.7% during the second quarter. Victory Capital Management Inc. now owns 1,598,557 shares of the industrial products company’s stock valued at $64,358,000 after purchasing an additional 99,795 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Worthington Industries during the third quarter valued at $3,299,000. 47.01% of the stock is currently owned by hedge funds and other institutional investors.
About Worthington Industries
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
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