Worthington Enterprises (NYSE:WOR) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Worthington Enterprises (NYSE:WOR) issued its earnings results on Tuesday. The industrial products company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.95 by $0.03, FiscalAI reports. Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. The company had revenue of $378.68 million during the quarter, compared to analysts’ expectations of $349.41 million.

Worthington Enterprises Price Performance

Shares of WOR traded up $2.74 during trading hours on Tuesday, reaching $51.90. The stock had a trading volume of 625,460 shares, compared to its average volume of 171,804. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.26 and a current ratio of 3.26. The stock has a market capitalization of $2.57 billion, a PE ratio of 24.48 and a beta of 1.32. Worthington Enterprises has a 12 month low of $40.85 and a 12 month high of $70.91. The company’s 50-day moving average is $54.03 and its two-hundred day moving average is $55.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WOR. McMillan Office Inc. bought a new position in Worthington Enterprises during the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its position in shares of Worthington Enterprises by 693.6% during the second quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock worth $39,000 after buying an additional 541 shares during the period. Empowered Funds LLC acquired a new stake in shares of Worthington Enterprises during the fourth quarter worth $51,000. Quadrant Capital Group LLC bought a new position in Worthington Enterprises during the third quarter worth $107,000. Finally, Kestra Advisory Services LLC acquired a new position in Worthington Enterprises in the fourth quarter valued at $151,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Canaccord Genuity Group cut their target price on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.00.

Worthington Enterprises Company Profile

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.