Equities Analysts Offer Predictions for Worthington Industries, Inc.’s Q1 2018 Earnings (WOR)
Worthington Industries, Inc. (NYSE:WOR) – Equities research analysts at KeyCorp issued their Q1 2018 EPS estimates for shares of Worthington Industries in a note issued to investors on Wednesday. KeyCorp analyst P. Gibbs forecasts that the industrial products company will post earnings of $0.80 per share for the quarter.
WOR has been the topic of a number of other research reports. Jefferies Group LLC reissued a “hold” rating and set a $45.00 price objective on shares of Worthington Industries in a research note on Wednesday, June 14th. BidaskClub lowered Worthington Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research lowered Worthington Industries from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $47.33.
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Shares of Worthington Industries (WOR) opened at 48.23 on Monday. The company has a market capitalization of $3.05 billion, a P/E ratio of 15.31 and a beta of 1.14. The company has a 50-day moving average price of $50.87 and a 200-day moving average price of $47.11. Worthington Industries has a 12 month low of $39.28 and a 12 month high of $62.44.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Wednesday, June 28th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The company had revenue of $845.30 million during the quarter, compared to the consensus estimate of $785.58 million. Worthington Industries had a return on equity of 20.59% and a net margin of 6.78%. Worthington Industries’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share.
Several institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its position in shares of Worthington Industries by 81.8% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the industrial products company’s stock valued at $100,000 after buying an additional 900 shares during the period. TrimTabs Asset Management LLC raised its position in shares of Worthington Industries by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,347 shares of the industrial products company’s stock valued at $106,000 after buying an additional 1,104 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Worthington Industries by 67.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,424 shares of the industrial products company’s stock valued at $109,000 after buying an additional 980 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Worthington Industries by 11.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the industrial products company’s stock valued at $115,000 after buying an additional 227 shares during the period. Finally, First Mercantile Trust Co. raised its position in shares of Worthington Industries by 2.0% in the second quarter. First Mercantile Trust Co. now owns 3,070 shares of the industrial products company’s stock valued at $154,000 after buying an additional 60 shares during the period. 54.13% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Dale T. Brinkman sold 28,212 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $49.50, for a total value of $1,396,494.00. Following the transaction, the vice president now owns 71,087 shares of the company’s stock, valued at approximately $3,518,806.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sidney A. Ribeau sold 5,000 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $50.34, for a total value of $251,700.00. Following the completion of the transaction, the director now directly owns 42,519 shares in the company, valued at approximately $2,140,406.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,712 shares of company stock worth $3,300,819. Corporate insiders own 31.30% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, September 12th. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.20.
About Worthington Industries
Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.
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