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

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Analysts expect that Worthington Industries, Inc. (NYSE:WOR) will post earnings per share (EPS) of $1.04 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Worthington Industries’ earnings. The lowest EPS estimate is $0.96 and the highest is $1.12. Worthington Industries posted earnings per share of $0.87 during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.5%. The company is expected to announce its next earnings report on Wednesday, June 27th.

On average, analysts expect that Worthington Industries will report full-year earnings of $3.04 per share for the current year, with EPS estimates ranging from $3.00 to $3.08. For the next financial year, analysts expect that the business will post earnings of $3.39 per share, with EPS estimates ranging from $3.23 to $3.58. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Worthington Industries.

Worthington Industries (NYSE:WOR) last posted its quarterly earnings data on Thursday, March 29th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.14). Worthington Industries had a return on equity of 17.05% and a net margin of 6.47%. The firm had revenue of $841.66 million for the quarter, compared to analyst estimates of $863.50 million. During the same period in the prior year, the company posted $0.55 EPS. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year.

Several research firms have issued reports on WOR. ValuEngine downgraded Worthington Industries from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $45.00 price objective on shares of Worthington Industries in a report on Friday, March 30th. Finally, Zacks Investment Research downgraded Worthington Industries from a “hold” rating to a “strong sell” rating in a report on Saturday, April 7th.

Worthington Industries traded down $0.86, hitting $47.50, during trading hours on Friday, MarketBeat reports. 515,451 shares of the stock were exchanged, compared to its average volume of 223,132. Worthington Industries has a twelve month low of $39.52 and a twelve month high of $53.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.05. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 3.34 and a beta of 1.08.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, June 14th. Worthington Industries’s dividend payout ratio is 26.09%.

In other Worthington Industries news, Director Michael J. Endres bought 3,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was bought at an average price of $39.78 per share, for a total transaction of $119,340.00. Following the transaction, the director now owns 187,440 shares of the company’s stock, valued at approximately $7,456,363.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Catherine M. Lyttle sold 34,500 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $40.65, for a total transaction of $1,402,425.00. Following the sale, the vice president now owns 32,059 shares of the company’s stock, valued at approximately $1,303,198.35. The disclosure for this sale can be found here. 31.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB raised its position in shares of Worthington Industries by 67.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 8,416 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 3,400 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Worthington Industries by 52.8% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 8,948 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 3,093 shares during the last quarter. Citigroup Inc. raised its position in shares of Worthington Industries by 12.4% during the 1st quarter. Citigroup Inc. now owns 13,370 shares of the industrial products company’s stock valued at $574,000 after acquiring an additional 1,472 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Worthington Industries by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,911,953 shares of the industrial products company’s stock valued at $82,061,000 after acquiring an additional 56,172 shares during the last quarter. Finally, Matarin Capital Management LLC bought a new stake in shares of Worthington Industries during the 1st quarter valued at $8,931,000. Institutional investors own 50.36% 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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Earnings History and Estimates for Worthington Industries (NYSE:WOR)

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