Wall Street brokerages forecast that Worthington Industries, Inc. (NYSE:WOR) will report earnings per share of $1.02 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Worthington Industries’ earnings. The lowest EPS estimate is $0.99 and the highest is $1.04. Worthington Industries reported earnings of $0.73 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 39.7%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, September 26th.
According to Zacks, analysts expect that Worthington Industries will report full year earnings of $3.39 per share for the current fiscal year, with EPS estimates ranging from $3.15 to $3.58. For the next financial year, analysts anticipate that the firm will report earnings of $3.55 per share, with EPS estimates ranging from $3.45 to $3.64. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Worthington Industries.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings data on Wednesday, June 27th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.09). Worthington Industries had a return on equity of 17.39% and a net margin of 5.44%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $935.50 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. Worthington Industries’s revenue for the quarter was up 20.7% compared to the same quarter last year.
Several equities research analysts recently weighed in on WOR shares. ValuEngine cut Worthington Industries from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Zacks Investment Research upgraded Worthington Industries from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Saturday, June 30th.
In other Worthington Industries news, Chairman John P/Oh Mcconnell sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $46.00, for a total transaction of $4,600,000.00. Following the completion of the transaction, the chairman now owns 1,766,699 shares of the company’s stock, valued at approximately $81,268,154. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sidney A. Ribeau sold 8,200 shares of the company’s stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $42.42, for a total value of $347,844.00. Following the transaction, the director now directly owns 48,119 shares of the company’s stock, valued at approximately $2,041,207.98. The disclosure for this sale can be found here. Insiders have sold a total of 122,751 shares of company stock valued at $5,628,976 over the last 90 days. 33.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WOR. BlackRock Inc. raised its position in Worthington Industries by 4.2% during the 1st quarter. BlackRock Inc. now owns 5,479,063 shares of the industrial products company’s stock valued at $235,162,000 after purchasing an additional 220,509 shares during the last quarter. Matarin Capital Management LLC bought a new position in shares of Worthington Industries in the 1st quarter worth approximately $8,931,000. Victory Capital Management Inc. raised its position in shares of Worthington Industries by 9.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,388,897 shares of the industrial products company’s stock worth $58,292,000 after acquiring an additional 116,552 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Worthington Industries by 10.8% in the 2nd quarter. Macquarie Group Ltd. now owns 1,151,872 shares of the industrial products company’s stock worth $48,344,000 after acquiring an additional 112,524 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new position in shares of Worthington Industries in the 2nd quarter worth approximately $4,430,000. 50.56% of the stock is owned by institutional investors and hedge funds.
Shares of WOR traded down $0.64 during midday trading on Tuesday, reaching $44.02. The stock had a trading volume of 262,800 shares, compared to its average volume of 288,686. Worthington Industries has a 12-month low of $39.52 and a 12-month high of $52.66. The company has a current ratio of 1.92, a quick ratio of 1.22 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $2.69 billion, a P/E ratio of 15.28 and a beta of 0.99.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, September 13th. This is a boost from Worthington Industries’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.09%. Worthington Industries’s dividend payout ratio is currently 29.17%.
About Worthington Industries
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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