Wall Street brokerages predict that Worthington Industries, Inc. (NYSE:WOR) will post $863.61 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Worthington Industries’ earnings. The lowest sales estimate is $838.00 million and the highest is $889.22 million. Worthington Industries reported sales of $703.44 million during the same quarter last year, which indicates a positive year over year growth rate of 22.8%. The business is expected to issue its next quarterly earnings report on Wednesday, April 4th.

On average, analysts expect that Worthington Industries will report full year sales of $863.61 million for the current year, with estimates ranging from $3.48 billion to $3.53 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.61 billion per share, with estimates ranging from $3.57 billion to $3.68 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Worthington Industries.

Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Tuesday, December 19th. The industrial products company reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). Worthington Industries had a net margin of 5.43% and a return on equity of 17.07%. The company had revenue of $871.30 million during the quarter, compared to analyst estimates of $823.50 million. During the same quarter last year, the company posted $0.75 EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis.

A number of research analysts recently commented on WOR shares. ValuEngine lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $46.50.

In other Worthington Industries news, Director Peter Karmanos sold 45,376 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $45.77, for a total value of $2,076,859.52. Following the completion of the sale, the director now owns 85,840 shares of the company’s stock, valued at approximately $3,928,896.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Lamprinakos sold 7,500 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $44.96, for a total transaction of $337,200.00. Following the completion of the sale, the insider now directly owns 70,751 shares of the company’s stock, valued at approximately $3,180,964.96. The disclosure for this sale can be found here. Insiders sold a total of 72,876 shares of company stock valued at $3,290,460 in the last three months. Insiders own 31.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC lifted its holdings in shares of Worthington Industries by 81.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Worthington Industries by 11.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the industrial products company’s stock worth $115,000 after acquiring an additional 227 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of Worthington Industries by 166.7% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,699 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 1,687 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Worthington Industries by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,675 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 1,175 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Worthington Industries during the 2nd quarter worth approximately $212,000. 52.79% of the stock is owned by hedge funds and other institutional investors.

Worthington Industries (NYSE WOR) opened at $47.75 on Tuesday. Worthington Industries has a 52 week low of $39.52 and a 52 week high of $53.27. The company has a market cap of $3,010.00, a PE ratio of 17.43, a P/E/G ratio of 3.70 and a beta of 1.11. The company has a quick ratio of 1.32, a current ratio of 2.11 and a debt-to-equity ratio of 0.74.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Wednesday, March 14th. Worthington Industries’s dividend payout ratio is currently 30.66%.

Worthington Industries announced that its board has initiated a share buyback plan on Wednesday, September 27th that allows the company to repurchase 6,830,000 shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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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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Earnings History and Estimates for Worthington Industries (NYSE:WOR)

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