Posted by admin on Jul 30th, 2022

Worthington Industries, Inc. (NYSE:WOR – Get Rating) – Equities researchers at Seaport Res Ptn lifted their Q2 2023 earnings per share (EPS) estimates for Worthington Industries in a note issued to investors on Wednesday, July 27th. Seaport Res Ptn analyst M. Englert now forecasts that the industrial products company will earn $1.62 per share for the quarter, up from their prior estimate of $1.39. The consensus estimate for Worthington Industries’ current full-year earnings is $4.76 per share. Seaport Res Ptn also issued estimates for Worthington Industries’ Q3 2023 earnings at $1.56 EPS, Q4 2023 earnings at $1.50 EPS, FY2024 earnings at $5.34 EPS and FY2025 earnings at $5.38 EPS.

Worthington Industries (NYSE:WOR – Get Rating) last released its quarterly earnings data on Wednesday, June 22nd. The industrial products company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.75. Worthington Industries had a return on equity of 23.06% and a net margin of 7.24%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.24 billion.

Separately, StockNews.com upgraded Worthington Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 25th.

WOR opened at $51.21 on Friday. Worthington Industries has a one year low of $39.13 and a one year high of $65.60. The stock has a market capitalization of $2.57 billion, a PE ratio of 6.90 and a beta of 0.97. The business’s 50 day moving average price is $44.95 and its 200 day moving average price is $50.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 1.92.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WOR. Paragon Capital Management Ltd purchased a new stake in Worthington Industries in the fourth quarter valued at approximately $29,000. Meeder Asset Management Inc. purchased a new stake in Worthington Industries in the first quarter valued at approximately $33,000. UMB Bank N A MO purchased a new stake in Worthington Industries in the fourth quarter valued at approximately $35,000. Tortoise Investment Management LLC purchased a new stake in shares of Worthington Industries during the first quarter worth $36,000. Finally, Pinebridge Investments L.P. purchased a new stake in shares of Worthington Industries during the fourth quarter worth $55,000. Hedge funds and other institutional investors own 45.96% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be given a $0.31 dividend. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, September 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.42%. Worthington Industries’s payout ratio is presently 15.09%.

Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing and manufactured metal products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments. The Steel Processing segment processes flat-rolled steel for customers primarily in the automotive, aerospace, agricultural, appliance, construction, container, hardware, heavy-truck, HVAC, lawn and garden, leisure and recreation, office furniture, and office equipment markets.

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