Wall Street analysts forecast that Worthington Industries, Inc. (NYSE:WOR) will report earnings of $0.76 per share for the current quarter, Zacks reports. Two analysts have made estimates for Worthington Industries’ earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.79. Worthington Industries posted earnings per share of $0.55 in the same quarter last year, which would indicate a positive year over year growth rate of 38.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 4th.
According to Zacks, analysts expect that Worthington Industries will report full-year earnings of $3.08 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.15. For the next financial year, analysts forecast that the company will report earnings of $3.54 per share, with EPS estimates ranging from $3.30 to $3.70. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Worthington Industries.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Tuesday, December 19th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). The company had revenue of $871.30 million during the quarter, compared to analysts’ expectations of $823.50 million. Worthington Industries had a net margin of 5.43% and a return on equity of 17.07%. Worthington Industries’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Worthington Industries from a “sell” rating to a “hold” rating in a research note on Saturday, December 23rd. ValuEngine downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.50.
In other Worthington Industries news, Director Peter Karmanos sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $43.82, for a total transaction of $876,400.00. Following the completion of the transaction, the director now owns 65,840 shares in the company, valued at approximately $2,885,108.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Lamprinakos sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was 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 of the company’s stock, valued at approximately $3,180,964.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,876 shares of company stock worth $3,290,460. 31.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Worthington Industries by 1.2% during the 2nd quarter. BlackRock Inc. now owns 5,352,354 shares of the industrial products company’s stock worth $268,796,000 after acquiring an additional 64,589 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Worthington Industries by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,682,457 shares of the industrial products company’s stock worth $84,487,000 after acquiring an additional 17,185 shares in the last quarter. Voya Investment Management LLC grew its holdings in Worthington Industries by 20.9% during the 2nd quarter. Voya Investment Management LLC now owns 1,040,954 shares of the industrial products company’s stock worth $52,277,000 after acquiring an additional 180,199 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Worthington Industries by 2.8% during the 3rd quarter. Macquarie Group Ltd. now owns 970,876 shares of the industrial products company’s stock worth $44,660,000 after acquiring an additional 26,305 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in Worthington Industries by 23.9% during the 3rd quarter. Prudential Financial Inc. now owns 948,446 shares of the industrial products company’s stock worth $43,629,000 after acquiring an additional 182,962 shares in the last quarter. Institutional investors own 52.79% of the company’s stock.
Worthington Industries (NYSE WOR) traded up $0.72 during trading on Friday, hitting $48.03. 396,107 shares of the stock were exchanged, compared to its average volume of 435,864. The stock has a market cap of $2,941.04, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 3.70 and a beta of 1.11. Worthington Industries has a twelve month low of $39.52 and a twelve month high of $53.27. The company has a quick ratio of 1.32, a current ratio of 2.11 and a debt-to-equity ratio of 0.74.
Worthington Industries announced that its Board of Directors has authorized a stock repurchase program on Wednesday, September 27th that allows the company to buyback 6,830,000 outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, March 14th. Worthington Industries’s payout ratio is currently 30.66%.
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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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