Zacks: Analysts Anticipate Worthington Industries (WOR) to Announce $1.04 EPS

Analysts forecast that Worthington Industries (NYSE:WOR) will announce earnings per share of $1.04 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Worthington Industries’ earnings, with the highest EPS estimate coming in at $1.12 and the lowest estimate coming in at $0.96. Worthington Industries reported earnings per share of $0.87 during the same quarter last year, which would suggest a positive year over year growth rate of 19.5%. The company is scheduled to issue its next quarterly earnings report on Wednesday, June 27th.

On average, analysts expect that Worthington Industries will report full year earnings of $3.02 per share for the current year, with EPS estimates ranging from $2.95 to $3.08. For the next financial year, analysts expect that the business will report earnings of $3.39 per share, with EPS estimates ranging from $3.22 to $3.58. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Worthington Industries.

Worthington Industries (NYSE:WOR) last posted its earnings results on Thursday, March 29th. The industrial products company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.14). The firm had revenue of $841.66 million for the quarter, compared to analysts’ expectations of $863.50 million. Worthington Industries had a return on equity of 17.05% and a net margin of 6.47%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share.

A number of analysts have commented on the company. ValuEngine upgraded Worthington Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th. Zacks Investment Research downgraded Worthington Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Finally, Jefferies Group reiterated a “hold” rating and set a $45.00 target price on shares of Worthington Industries in a research report on Friday, March 30th.

In other news, VP Catherine M. Lyttle sold 34,500 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $40.65, for a total value of $1,402,425.00. Following the sale, the vice president now directly owns 32,059 shares in the company, valued at $1,303,198.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Endres acquired 3,000 shares of Worthington Industries stock in a transaction dated Wednesday, April 4th. The stock was bought at an average price of $39.78 per share, for a total transaction of $119,340.00. Following the completion of the transaction, the director now directly owns 187,440 shares of the company’s stock, valued at $7,456,363.20. The disclosure for this purchase can be found here. 31.30% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. PDS Planning Inc purchased a new stake in shares of Worthington Industries in the first quarter valued at $185,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Worthington Industries in the fourth quarter valued at $218,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Worthington Industries in the fourth quarter valued at $221,000. Elkfork Partners LLC purchased a new stake in shares of Worthington Industries in the fourth quarter valued at $234,000. Finally, Creative Planning purchased a new stake in shares of Worthington Industries in the fourth quarter valued at $246,000. Institutional investors and hedge funds own 52.82% of the company’s stock.

WOR opened at $45.94 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 3.65 and a beta of 1.08. Worthington Industries has a one year low of $45.04 and a one year high of $45.93.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.83%. Worthington Industries’s dividend payout ratio is currently 26.09%.

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.

Get a free copy of the Zacks research report on Worthington Industries (WOR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Worthington Industries (NYSE:WOR)

Receive News & Ratings for Worthington Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worthington Industries and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply