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.
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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