Brokerages expect that Worthington Industries, Inc. (NYSE:WOR) will post sales of $786.53 million for the current quarter, according to Zacks. Three analysts have issued estimates for Worthington Industries’ earnings. The highest sales estimate is $825.80 million and the lowest is $729.80 million. Worthington Industries reported sales of $958.23 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 17.9%. The company is expected to announce its next earnings results before the market opens on Tuesday, December 17th.
On average, analysts expect that Worthington Industries will report full-year sales of $3.25 billion for the current financial year, with estimates ranging from $3.07 billion to $3.34 billion. For the next year, analysts forecast that the business will report sales of $3.32 billion, with estimates ranging from $3.24 billion to $3.41 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Worthington Industries.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, September 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.10). Worthington Industries had a return on equity of 15.28% and a net margin of 2.58%. The business had revenue of $855.86 million for the quarter, compared to analysts’ expectations of $924.00 million. During the same period last year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was down 13.4% on a year-over-year basis.
NYSE WOR traded down $0.04 during mid-day trading on Thursday, reaching $40.10. 146,933 shares of the stock were exchanged, compared to its average volume of 220,192. Worthington Industries has a 1-year low of $31.42 and a 1-year high of $41.52. The business’s fifty day simple moving average is $37.76 and its 200 day simple moving average is $37.20. The stock has a market capitalization of $2.20 billion, a PE ratio of 14.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.13.
The company also recently announced 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. The ex-dividend date of this dividend is Thursday, December 12th. This represents a yield of 2.7%. Worthington Industries’s dividend payout ratio (DPR) is currently 34.66%.
In related news, insider Jeffrey R. Klingler sold 961 shares of the firm’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 transaction of $36,960.06. Following the sale, the insider now owns 5,307 shares in the company, valued at $204,107.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 34.80% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. First Mercantile Trust Co. boosted its holdings in shares of Worthington Industries by 11.6% in the 3rd quarter. First Mercantile Trust Co. now owns 2,961 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 308 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 valued at $104,000 after acquiring an additional 392 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Worthington Industries by 6.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 8,485 shares of the industrial products company’s stock valued at $342,000 after acquiring an additional 506 shares in the last quarter. Smith Graham & Co. Investment Advisors LP lifted its holdings in shares of Worthington Industries by 0.5% during the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 155,573 shares of the industrial products company’s stock valued at $5,608,000 after acquiring an additional 830 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Worthington Industries during the 2nd quarter valued at $36,000. Institutional investors own 47.01% 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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