Worthington Steel (NYSE:WS) Issues Quarterly Earnings Results, Misses Expectations By $0.59 EPS

Worthington Steel (NYSE:WS) released its earnings results on Tuesday. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.59), Zacks reports. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $3.14 billion. Worthington Steel had a net margin of 0.50% and a return on equity of 8.87%. The firm’s revenue for the quarter was up 212.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share.

Worthington Steel Trading Down 1.5%

Worthington Steel stock opened at $38.53 on Wednesday. The company’s fifty day simple moving average is $35.68 and its 200-day simple moving average is $36.33. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 0.04. Worthington Steel has a 12 month low of $27.22 and a 12 month high of $49.17. The stock has a market cap of $1.96 billion, a P/E ratio of 27.72 and a beta of 2.24.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WS shares. Zacks Research downgraded Worthington Steel from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 17th. Weiss Ratings downgraded Worthington Steel from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. KeyCorp restated an “overweight” rating on shares of Worthington Steel in a research report on Tuesday. Finally, Wall Street Zen cut Worthington Steel from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Worthington Steel currently has an average rating of “Hold” and an average target price of $46.00.

Worthington Steel Company Profile

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers in the automotive, construction, energy, industrial and consumer markets. Its offerings include electrical steel, laser-welded and tailor-welded blanks, and other processed steel products designed to meet specific customer requirements.

The company provides services such as slitting, blanking, cold reduction, welding and other steel processing capabilities. Its products are used in applications including automotive components, electrical motors and transformers, building products, pressure vessels and industrial equipment.

Worthington Steel was separated from Worthington Industries as an independent public company in December 2023.