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

Brokerages expect Worthington Industries, Inc. (NYSE:WOR) to announce $1.04 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Worthington Industries’ earnings. The lowest EPS estimate is $0.96 and the highest is $1.12. Worthington Industries reported earnings per share of $0.87 in the same quarter last year, which suggests a positive year over year growth rate of 19.5%. The company is expected to report its next quarterly earnings report on Wednesday, June 27th.

According to Zacks, analysts expect that Worthington Industries will report full year earnings of $3.02 per share for the current fiscal year, with EPS estimates ranging from $2.95 to $3.08. For the next year, analysts forecast that the company will report earnings of $3.37 per share, with EPS estimates ranging from $3.22 to $3.58. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Worthington Industries.

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Worthington Industries (NYSE:WOR) last released its quarterly earnings data on Thursday, March 29th. The industrial products company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.14). The business had revenue of $841.66 million during the quarter, compared to analyst estimates 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 was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS.

Several research firms recently commented on WOR. Zacks Investment Research lowered shares of Worthington Industries from a “hold” rating to a “strong sell” rating in a research report on Saturday. Jefferies Group restated a “hold” rating and set a $45.00 price target on shares of Worthington Industries in a research report on Friday, March 30th. Finally, ValuEngine upgraded shares of Worthington Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th.

WOR stock traded up $0.29 during midday trading on Monday, hitting $41.08. 96,300 shares of the stock traded hands, compared to its average volume of 321,190. The firm has a market cap of $2,512.36, a PE ratio of 12.77, a P/E/G ratio of 3.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.05. Worthington Industries has a 1-year low of $39.52 and a 1-year high of $53.27.

The business also recently announced 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 2.04%. Worthington Industries’s dividend payout ratio (DPR) is 26.09%.

In other news, VP Catherine M. Lyttle sold 34,500 shares of Worthington Industries stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $40.65, for a total value of $1,402,425.00. Following the sale, the vice president now owns 32,059 shares in the company, valued at $1,303,198.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dale T. Brinkman sold 6,874 shares of Worthington Industries stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $48.32, for a total transaction of $332,151.68. Following the completion of the sale, the vice president now owns 35,992 shares in the company, valued at approximately $1,739,133.44. The disclosure for this sale can be found here. 31.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Elkfork Partners LLC acquired a new stake in shares of Worthington Industries in the fourth quarter valued at about $234,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Worthington Industries in the fourth quarter valued at about $221,000. MetLife Investment Advisors LLC purchased a new position in shares of Worthington Industries in the fourth quarter worth about $2,106,000. Macquarie Group Ltd. lifted its stake in shares of Worthington Industries by 2.0% in the fourth quarter. Macquarie Group Ltd. now owns 990,398 shares of the industrial products company’s stock worth $43,637,000 after buying an additional 19,522 shares in the last quarter. Finally, Crestline Management LP purchased a new position in shares of Worthington Industries in the fourth quarter worth about $1,360,000. Institutional investors and hedge funds own 52.65% of the company’s stock.

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Worthington Industries Company Profile

Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.

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

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