Wall Street analysts expect Worthington Industries, Inc. (NYSE:WOR) to report sales of $935.34 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Worthington Industries’ earnings. The highest sales estimate is $971.00 million and the lowest is $899.68 million. Worthington Industries posted sales of $845.34 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.6%. The firm is expected to announce its next earnings report on Wednesday, June 27th.
According to Zacks, analysts expect that Worthington Industries will report full year sales of $3.50 billion for the current year, with estimates ranging from $3.46 billion to $3.53 billion. For the next financial year, analysts forecast that the business will report sales of $3.73 billion per share, with estimates ranging from $3.63 billion to $3.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Worthington Industries.
Get Worthington Industries alerts:Worthington Industries (NYSE:WOR) last issued its earnings results on Thursday, March 29th. The industrial products company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.14). The firm had revenue of $841.66 million during the quarter, compared to the consensus estimate of $863.50 million. Worthington Industries had a return on equity of 17.05% and a net margin of 6.47%. The company’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS.
Several brokerages recently weighed in on WOR. ValuEngine downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $45.00 target price on shares of Worthington Industries in a report on Friday, March 30th. Finally, Zacks Investment Research downgraded shares of Worthington Industries from a “hold” rating to a “strong sell” rating in a report on Saturday, April 7th.
Worthington Industries stock traded up $0.28 during mid-day trading on Tuesday, hitting $47.94. The stock had a trading volume of 9,287 shares, compared to its average volume of 250,633. The company has a market capitalization of $2.98 billion, a P/E ratio of 14.88, a P/E/G ratio of 3.40 and a beta of 1.08. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.05. Worthington Industries has a one year low of $39.52 and a one year high of $53.27.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 14th. Worthington Industries’s dividend payout ratio (DPR) is presently 26.09%.
In related news, Director Michael J. Endres acquired 3,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was acquired at an average price of $39.78 per share, with a total value of $119,340.00. Following the acquisition, the director now directly owns 187,440 shares of the company’s stock, valued at $7,456,363.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Catherine M. Lyttle sold 34,500 shares of the stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $40.65, for a total transaction of $1,402,425.00. Following the transaction, the vice president now directly owns 32,059 shares of the company’s stock, valued at approximately $1,303,198.35. The disclosure for this sale can be found here. 31.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. PDS Planning Inc purchased a new stake in shares of Worthington Industries during the 1st quarter valued at about $185,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Worthington Industries during the 4th quarter valued at about $218,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Worthington Industries during the 4th quarter valued at about $221,000. Elkfork Partners LLC purchased a new stake in shares of Worthington Industries during the 4th quarter valued at about $234,000. Finally, Flinton Capital Management LLC raised its position in shares of Worthington Industries by 24.2% during the 4th quarter. Flinton Capital Management LLC now owns 6,460 shares of the industrial products company’s stock valued at $285,000 after buying an additional 1,258 shares in the last quarter. Hedge funds and other institutional investors own 50.36% of the company’s stock.
Worthington Industries Company Profile
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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