Wall Street analysts predict that Worthington Industries, Inc. (NYSE:WOR) will post earnings per share of $0.69 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Worthington Industries’ earnings. The highest EPS estimate is $0.74 and the lowest is $0.63. Worthington Industries posted earnings of $0.75 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 8%. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, December 19th.
On average, analysts expect that Worthington Industries will report full year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.23. For the next fiscal year, analysts expect that the business will report earnings of $3.27 per share, with EPS estimates ranging from $3.15 to $3.49. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Worthington Industries.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Wednesday, September 27th. The industrial products company reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.09). Worthington Industries had a net margin of 5.90% and a return on equity of 17.98%. The firm had revenue of $848.24 million during the quarter, compared to the consensus estimate of $854.20 million. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year.
A number of equities analysts have recently commented on WOR shares. ValuEngine lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Zacks Investment Research lowered shares of Worthington Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.50.
Worthington Industries (NYSE WOR) traded up $0.29 during trading hours on Monday, hitting $42.60. 297,351 shares of the stock were exchanged, compared to its average volume of 449,299. Worthington Industries has a 12 month low of $39.52 and a 12 month high of $57.00. The company has a market capitalization of $2,664.29, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 3.25 and a beta of 1.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.36 and a current ratio of 2.14.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, December 14th. Worthington Industries’s dividend payout ratio is 29.58%.
Worthington Industries announced that its Board of Directors has initiated a stock repurchase program on Wednesday, September 27th that authorizes the company to repurchase 6,830,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, insider John G. Lamprinakos sold 7,500 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $44.96, for a total value of $337,200.00. Following the sale, the insider now owns 70,751 shares in the company, valued at $3,180,964.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter Karmanos sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $43.82, for a total transaction of $876,400.00. Following the completion of the sale, the director now owns 65,840 shares in the company, valued at approximately $2,885,108.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,876 shares of company stock worth $3,290,460. 31.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Worthington Industries by 1.2% in the second 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Worthington Industries by 1.0% in the second 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 during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Worthington Industries by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 1,098,713 shares of the industrial products company’s stock worth $55,178,000 after acquiring an additional 101,166 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Worthington Industries by 20.9% in the second 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 during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Worthington Industries by 2.8% in the third 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 during the last quarter. Institutional investors and hedge funds own 52.48% of the company’s stock.
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About Worthington Industries
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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