Brokerages forecast that Worthington Industries, Inc. (NYSE:WOR) will post sales of $863.61 million for the current quarter, Zacks reports. Two analysts have provided estimates for Worthington Industries’ earnings, with the highest sales estimate coming in at $889.22 million and the lowest estimate coming in at $838.00 million. Worthington Industries reported sales of $703.44 million in the same quarter last year, which indicates a positive year over year growth rate of 22.8%. The business is scheduled 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 financial year, analysts expect that the company will post sales of $3.61 billion per share, with estimates ranging from $3.57 billion to $3.68 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Worthington Industries.
Worthington Industries (NYSE:WOR) last posted 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). The firm had revenue of $871.30 million during the quarter, compared to analyst estimates of $823.50 million. Worthington Industries had a return on equity of 17.07% and a net margin of 5.43%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share.
Separately, Zacks Investment Research raised Worthington Industries from a “sell” rating to a “hold” rating in a report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Worthington Industries presently has an average rating of “Hold” and an average price target of $46.50.
Shares of Worthington Industries (NYSE WOR) traded up $0.36 during trading hours on Monday, reaching $46.17. The company had a trading volume of 107,329 shares, compared to its average volume of 342,789. Worthington Industries has a 1 year low of $39.52 and a 1 year high of $53.27. The company has a market capitalization of $2,829.56, a PE ratio of 16.72, a price-to-earnings-growth ratio of 3.56 and a beta of 1.11. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.32 and a current ratio of 2.11.
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 given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, March 14th. Worthington Industries’s dividend payout ratio (DPR) is currently 30.66%.
In other news, VP Dale T. Brinkman sold 6,874 shares of Worthington Industries stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $48.32, for a total value of $332,151.68. Following the completion of the transaction, the vice president now owns 35,992 shares of the company’s stock, valued at approximately $1,739,133.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 31.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Worthington Industries by 31.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,444 shares of the industrial products company’s stock worth $1,170,000 after buying an additional 6,139 shares during the period. California Public Employees Retirement System raised its stake in Worthington Industries by 2.2% in the 3rd quarter. California Public Employees Retirement System now owns 140,899 shares of the industrial products company’s stock worth $6,481,000 after purchasing an additional 2,999 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Worthington Industries by 44.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,338 shares of the industrial products company’s stock worth $1,212,000 after purchasing an additional 8,095 shares in the last quarter. New Amsterdam Partners LLC NY raised its stake in Worthington Industries by 1.5% in the 4th quarter. New Amsterdam Partners LLC NY now owns 146,059 shares of the industrial products company’s stock worth $6,435,000 after purchasing an additional 2,172 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Worthington Industries by 7.4% in the 3rd quarter. Legal & General Group Plc now owns 62,213 shares of the industrial products company’s stock worth $2,861,000 after purchasing an additional 4,305 shares in the last quarter. 53.82% of the stock is owned by institutional investors.
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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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