Worthington Steel (NYSE:WS) Issues Earnings Results

Worthington Steel (NYSE:WS) posted its earnings results on Wednesday. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32), Zacks reports. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business had revenue of $687.40 million during the quarter, compared to analysts’ expectations of $732.00 million. During the same quarter in the prior year, the firm earned $0.99 EPS. Worthington Steel’s revenue for the quarter was down 14.7% compared to the same quarter last year.

Worthington Steel Price Performance

Shares of WS stock traded up $0.89 on Wednesday, hitting $26.99. The stock had a trading volume of 390,694 shares, compared to its average volume of 229,826. The firm has a market capitalization of $1.37 billion, a P/E ratio of 9.47 and a beta of 2.62. Worthington Steel has a 1 year low of $24.22 and a 1 year high of $47.19. The company’s 50 day moving average price is $28.40 and its 200-day moving average price is $34.17.

Analyst Upgrades and Downgrades

Separately, KeyCorp reduced their target price on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th.

About Worthington Steel

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.