Zacks: Analysts Expect Worthington Industries, Inc. (WOR) to Post $0.69 EPS
Equities research analysts expect Worthington Industries, Inc. (NYSE:WOR) to announce $0.69 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Worthington Industries’ earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.63. Worthington Industries posted earnings of $0.75 per share in the same quarter last year, which would suggest a negative year over year growth rate of 8%. The firm is scheduled to report its next quarterly earnings results on Monday, December 18th.
According to Zacks, analysts expect that Worthington Industries will report full-year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.23. For the next financial year, analysts forecast that the company will report earnings of $3.27 per share, with EPS estimates ranging from $3.15 to $3.49. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Worthington Industries.
Worthington Industries (NYSE:WOR) last announced its earnings results on Wednesday, September 27th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.09). Worthington Industries had a net margin of 5.90% and a return on equity of 17.98%. The business had revenue of $848.24 million for the quarter, compared to analysts’ expectations of $854.20 million. During the same period in the prior year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year.
A number of brokerages have weighed in on WOR. Zacks Investment Research lowered shares of Worthington Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 13th. BidaskClub lowered shares of Worthington Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, ValuEngine lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $46.50.
Shares of Worthington Industries (NYSE:WOR) traded down $0.17 during trading on Friday, hitting $45.00. The stock had a trading volume of 433,838 shares, compared to its average volume of 602,989. The stock has a market cap of $2,830.00, a price-to-earnings ratio of 15.58, a PEG ratio of 3.47 and a beta of 1.14. Worthington Industries has a 1 year low of $40.82 and a 1 year high of $62.44. The company has a current ratio of 2.14, a quick ratio of 1.36 and a debt-to-equity ratio of 0.71.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.87%. Worthington Industries’s payout ratio is 29.58%.
Worthington Industries declared that its board has authorized a stock buyback plan on Wednesday, September 27th that allows the company to buyback 6,830,000 outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, Director Peter Karmanos sold 45,376 shares of Worthington Industries stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $45.77, for a total transaction of $2,076,859.52. Following the transaction, the director now owns 85,840 shares in the company, valued at approximately $3,928,896.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Lamprinakos sold 7,500 shares of Worthington Industries stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $44.96, for a total transaction of $337,200.00. Following the transaction, the insider now owns 70,751 shares in the company, valued at approximately $3,180,964.96. The disclosure for this sale can be found here. Insiders own 31.30% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Acrospire Investment Management LLC lifted its holdings in Worthington Industries by 81.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the industrial products company’s stock worth $100,000 after buying an additional 900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Worthington Industries by 11.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the industrial products company’s stock worth $115,000 after buying an additional 227 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in Worthington Industries by 2.0% in the 2nd quarter. First Mercantile Trust Co. now owns 3,070 shares of the industrial products company’s stock worth $154,000 after buying an additional 60 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Worthington Industries in the 2nd quarter worth $212,000. Finally, Riverhead Capital Management LLC increased its position in shares of Worthington Industries by 54.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,331 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 1,531 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.
Worthington Industries Company Profile
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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