Brokerages predict that Worthington Industries, Inc. (NYSE:WOR) will post earnings of $0.58 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Worthington Industries’ earnings. The lowest EPS estimate is $0.52 and the highest is $0.61. Worthington Industries also posted earnings of $0.58 per share in the same quarter last year. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, December 17th.
According to Zacks, analysts expect that Worthington Industries will report full-year earnings of $2.77 per share for the current year, with EPS estimates ranging from $2.48 to $3.05. For the next fiscal year, analysts anticipate that the company will post earnings of $3.30 per share, with EPS estimates ranging from $2.70 to $3.89. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Worthington Industries.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Wednesday, September 25th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.10). Worthington Industries had a net margin of 2.58% and a return on equity of 15.28%. The company had revenue of $855.86 million during the quarter, compared to analysts’ expectations of $924.00 million. During the same quarter in the prior year, the business posted $0.92 earnings per share. The company’s revenue was down 13.4% compared to the same quarter last year.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Worthington Industries from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 28th. TheStreet downgraded shares of Worthington Industries from a “b-” rating to a “c” rating in a research note on Wednesday, September 25th. ValuEngine upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Exane BNP Paribas initiated coverage on shares of Worthington Industries in a report on Thursday, November 14th. They issued a “neutral” rating and a $38.00 target price for the company.
NYSE:WOR traded down $0.04 during trading hours on Tuesday, hitting $40.10. 146,933 shares of the stock were exchanged, compared to its average volume of 220,192. Worthington Industries has a 52-week low of $31.42 and a 52-week high of $41.52. The firm’s fifty day moving average price is $37.76 and its 200 day moving average price is $37.20. The company has a current ratio of 2.13, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. The company has a market cap of $2.20 billion, a P/E ratio of 14.48 and a beta of 1.18.
The firm also recently disclosed a — dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.24 per share. This represents a dividend yield of 2.7%. The ex-dividend date is Thursday, December 12th. Worthington Industries’s dividend payout ratio is presently 34.66%.
In other news, insider Jeffrey R. Klingler sold 961 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.46, for a total value of $36,960.06. Following the completion of the sale, the insider now directly owns 5,307 shares of the company’s stock, valued at approximately $204,107.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 34.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its holdings in Worthington Industries by 6.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 8,485 shares of the industrial products company’s stock valued at $342,000 after purchasing an additional 506 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Worthington Industries by 17.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,581 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 392 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Worthington Industries by 4.8% during the 2nd quarter. Fisher Asset Management LLC now owns 159,327 shares of the industrial products company’s stock worth $6,415,000 after acquiring an additional 7,255 shares during the last quarter. Aperio Group LLC lifted its stake in Worthington Industries by 10.8% in the second quarter. Aperio Group LLC now owns 10,473 shares of the industrial products company’s stock valued at $422,000 after buying an additional 1,024 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Worthington Industries by 18.9% in the second quarter. Van ECK Associates Corp now owns 46,481 shares of the industrial products company’s stock valued at $1,871,000 after purchasing an additional 7,394 shares during the last quarter. 47.01% of the stock is owned by institutional investors and hedge funds.
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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