Worthington Industries, Inc. (WOR) Expected to Announce Quarterly Sales of $982.65 Million

Equities research analysts expect that Worthington Industries, Inc. (NYSE:WOR) will post sales of $982.65 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Worthington Industries’ earnings, with the highest sales estimate coming in at $985.00 million and the lowest estimate coming in at $978.30 million. Worthington Industries posted sales of $871.27 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.8%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, December 18th.

On average, analysts expect that Worthington Industries will report full-year sales of $3.96 billion for the current financial year, with estimates ranging from $3.96 billion to $3.97 billion. For the next financial year, analysts forecast that the business will post sales of $3.91 billion, with estimates ranging from $3.76 billion to $4.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Worthington Industries.

Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, September 26th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.10). Worthington Industries had a return on equity of 18.42% and a net margin of 5.49%. The firm had revenue of $988.10 million for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The company’s revenue was up 16.5% on a year-over-year basis.

A number of equities research analysts have recently issued reports on WOR shares. Zacks Investment Research cut Worthington Industries from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Jefferies Financial Group cut their price target on Worthington Industries from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Thursday, September 27th. JPMorgan Chase & Co. cut their price target on Worthington Industries from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, September 27th. Finally, ValuEngine upgraded Worthington Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st.

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Worthington Industries by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,007,213 shares of the industrial products company’s stock valued at $84,246,000 after buying an additional 95,260 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Worthington Industries by 8.7% in the third quarter. Victory Capital Management Inc. now owns 1,509,040 shares of the industrial products company’s stock valued at $65,432,000 after buying an additional 120,143 shares during the period. Voya Investment Management LLC boosted its stake in shares of Worthington Industries by 2.4% in the second quarter. Voya Investment Management LLC now owns 1,212,125 shares of the industrial products company’s stock valued at $50,873,000 after buying an additional 28,072 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Worthington Industries by 10.8% in the second quarter. Macquarie Group Ltd. now owns 1,151,872 shares of the industrial products company’s stock valued at $48,344,000 after buying an additional 112,524 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Worthington Industries by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 844,972 shares of the industrial products company’s stock valued at $36,637,000 after buying an additional 14,203 shares during the period. Institutional investors and hedge funds own 50.46% of the company’s stock.

Shares of NYSE:WOR opened at $42.42 on Friday. Worthington Industries has a 12-month low of $39.29 and a 12-month high of $49.93. The company has a market cap of $2.64 billion, a PE ratio of 14.73 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.98 and a quick ratio of 1.18.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 13th. Worthington Industries’s dividend payout ratio (DPR) is currently 31.94%.

About Worthington Industries

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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