Worthington Industries (WOR) Expected to Announce Earnings of $1.04 Per Share

Wall Street brokerages forecast that Worthington Industries (NYSE:WOR) will report $1.04 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Worthington Industries’ earnings, with the highest EPS estimate coming in at $1.12 and the lowest estimate coming in at $0.96. Worthington Industries posted earnings of $0.87 per share in the same quarter last year, which would suggest a positive year over year growth rate of 19.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, June 27th.

On average, analysts expect that Worthington Industries will report full year earnings of $3.02 per share for the current financial year, with EPS estimates ranging from $2.95 to $3.08. For the next financial year, analysts forecast that the firm will report earnings of $3.39 per share, with EPS estimates ranging from $3.22 to $3.58. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Worthington Industries.

Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Thursday, March 29th. The industrial products company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.14). Worthington Industries had a return on equity of 17.05% and a net margin of 6.47%. The firm had revenue of $841.66 million for the quarter, compared to analyst estimates of $863.50 million. During the same quarter last year, the firm earned $0.55 EPS. The company’s revenue was up 19.6% on a year-over-year basis.

A number of brokerages have commented on WOR. ValuEngine downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Worthington Industries from a “hold” rating to a “strong sell” rating in a report on Saturday, April 7th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $45.00 price target on shares of Worthington Industries in a research note on Friday, March 30th.

In other Worthington Industries news, VP Catherine M. Lyttle sold 34,500 shares of Worthington Industries stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $40.65, for a total value of $1,402,425.00. Following the completion of the transaction, the vice president now owns 32,059 shares of the company’s stock, valued at $1,303,198.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Endres acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, April 4th. The stock was acquired at an average cost of $39.78 per share, with a total value of $119,340.00. Following the acquisition, the director now owns 187,440 shares of the company’s stock, valued at $7,456,363.20. The disclosure for this purchase can be found here. Company insiders own 31.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Koch Industries Inc. lifted its holdings in Worthington Industries by 24.0% in the fourth quarter. Koch Industries Inc. now owns 9,579 shares of the industrial products company’s stock worth $422,000 after purchasing an additional 1,855 shares during the period. Victory Capital Management Inc. bought a new stake in Worthington Industries in the fourth quarter worth about $55,391,000. New Amsterdam Partners LLC NY raised its position in Worthington Industries by 1.5% in the fourth quarter. New Amsterdam Partners LLC NY now owns 146,059 shares of the industrial products company’s stock worth $6,435,000 after acquiring an additional 2,172 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Worthington Industries by 22.4% in the fourth quarter. Gateway Investment Advisers LLC now owns 67,369 shares of the industrial products company’s stock worth $2,968,000 after acquiring an additional 12,323 shares in the last quarter. Finally, Burney Co. raised its position in Worthington Industries by 11.5% in the fourth quarter. Burney Co. now owns 112,430 shares of the industrial products company’s stock worth $4,954,000 after acquiring an additional 11,553 shares in the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

NYSE:WOR traded up $0.40 during trading hours on Friday, reaching $46.22. 280,300 shares of the company’s stock were exchanged, compared to its average volume of 320,041. The stock has a market cap of $2.78 billion, a P/E ratio of 14.35, a P/E/G ratio of 3.56 and a beta of 1.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.29. Worthington Industries has a 1-year low of $39.52 and a 1-year high of $53.27.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.82%. Worthington Industries’s dividend payout ratio is currently 26.09%.

Worthington Industries Company Profile

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

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