KeyCorp Weighs in on Worthington Industries, Inc.’s Q2 2019 Earnings (WOR)

Worthington Industries, Inc. (NYSE:WOR) – Stock analysts at KeyCorp issued their Q2 2019 earnings estimates for Worthington Industries in a report released on Tuesday, October 2nd. KeyCorp analyst P. Gibbs forecasts that the industrial products company will earn $0.64 per share for the quarter. KeyCorp also issued estimates for Worthington Industries’ FY2020 earnings at $3.07 EPS.

Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Wednesday, September 26th. The industrial products company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.02 by ($0.10). Worthington Industries had a return on equity of 18.42% and a net margin of 5.49%. The firm had revenue of $988.10 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on WOR. ValuEngine downgraded Worthington Industries from a “hold” rating to a “sell” rating in a research note on Friday, June 29th. JPMorgan Chase & Co. cut their price target on Worthington Industries from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, September 27th. Zacks Investment Research raised Worthington Industries from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Saturday, June 30th. Finally, Jefferies Financial Group cut their price target on Worthington Industries from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Thursday, September 27th.

WOR opened at $42.63 on Friday. Worthington Industries has a fifty-two week low of $39.52 and a fifty-two week high of $49.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.98 and a quick ratio of 1.18. The stock has a market cap of $2.58 billion, a PE ratio of 14.80 and a beta of 1.00.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Worthington Industries by 4.2% in the 1st quarter. BlackRock Inc. now owns 5,479,063 shares of the industrial products company’s stock valued at $235,162,000 after buying an additional 220,509 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Worthington Industries by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,213 shares of the industrial products company’s stock valued at $84,246,000 after buying an additional 95,260 shares during the last quarter. Victory Capital Management Inc. grew its holdings in 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 valued at $58,292,000 after buying an additional 116,552 shares during the last quarter. Voya Investment Management LLC grew its holdings in Worthington Industries by 2.4% in the 2nd quarter. Voya Investment Management LLC now owns 1,212,125 shares of the industrial products company’s stock valued at $50,873,000 after buying an additional 28,072 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in 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 valued at $48,344,000 after buying an additional 112,524 shares during the last quarter. 50.54% of the stock is currently owned by institutional investors and hedge funds.

In related news, Chairman John P/Oh Mcconnell sold 100,000 shares of the firm’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 value of $4,600,000.00. Following the transaction, the chairman now directly owns 1,766,699 shares of the company’s stock, valued at approximately $81,268,154. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Terrence M. Dyer sold 14,551 shares of the firm’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $46.81, for a total value of $681,132.31. Following the completion of the transaction, the vice president now directly owns 18,491 shares in the company, valued at $865,563.71. The disclosure for this sale can be found here. 33.20% of the stock is currently owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, December 13th. Worthington Industries’s payout ratio is 31.94%.

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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