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

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, March 25th, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.17 per share by the industrial products company on Friday, June 27th. This represents a $0.68 dividend on an annualized basis and a yield of 1.63%.

Worthington Enterprises has decreased its dividend 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 Trading Up 1.7 %

Shares of WOR stock opened at $41.73 on Wednesday. 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 company has a market cap of $2.09 billion, a price-to-earnings ratio of 50.28 and a beta of 1.21. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $62.86. The firm has a fifty day moving average price of $41.82 and a 200-day moving average price of $41.31.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The business had revenue of $304.52 million during the quarter, compared to analysts’ expectations of $289.09 million. During the same quarter in the prior year, the business posted $0.80 earnings per share. The business’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, equities analysts predict that Worthington Enterprises will post 2.67 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on WOR shares. Canaccord Genuity Group upped their target price on shares of Worthington Enterprises from $46.00 to $49.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Seaport Res Ptn upgraded shares of Worthington Enterprises to a “strong-buy” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.