Worthington Enterprises, Inc. (NYSE:WOR) Declares Quarterly Dividend of $0.17

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, December 17th, RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.17 per share by the industrial products company on Friday, March 28th. This represents a $0.68 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, March 14th.

Worthington Enterprises has decreased its dividend payment by an average of 15.4% annually over the last three years. Worthington Enterprises has a payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Worthington Enterprises to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 22.1%.

Worthington Enterprises Price Performance

Shares of WOR opened at $41.62 on Wednesday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 50.15 and a beta of 1.21. Worthington Enterprises has a fifty-two week low of $37.88 and a fifty-two week high of $69.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. The business’s 50-day moving average is $41.65 and its 200-day moving average is $41.58.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The business had revenue of $274.05 million during the quarter, compared to analysts’ expectations of $273.77 million. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. Equities research analysts expect that Worthington Enterprises will post 2.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WOR has been the subject of several research reports. Seaport Res Ptn raised Worthington Enterprises to a “strong-buy” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group upped their target price on Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Worthington Enterprises has a consensus rating of “Hold” and a consensus target price of $46.00.

About Worthington Enterprises

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.