Zacks: Brokerages Anticipate Worthington Industries, Inc. (WOR) to Post $0.71 EPS

Equities analysts expect Worthington Industries, Inc. (NYSE:WOR) to announce earnings of $0.71 per share for the current quarter, Zacks reports. Three analysts have made estimates for Worthington Industries’ earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.64. Worthington Industries reported earnings per share of $0.65 in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.2%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, December 18th.

On average, analysts expect that Worthington Industries will report full-year earnings of $3.19 per share for the current year, with EPS estimates ranging from $2.95 to $3.39. For the next year, analysts anticipate that the firm will post earnings of $3.33 per share, with EPS estimates ranging from $3.05 to $3.53. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Worthington Industries.

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

Several research firms recently commented on WOR. Zacks Investment Research cut shares of Worthington Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. ValuEngine upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. JPMorgan Chase & Co. dropped their price objective on shares of 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, Jefferies Financial Group dropped their price objective on shares of Worthington Industries from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Thursday, September 27th.

Several hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. raised its stake in shares of Worthington Industries by 23.2% in the 3rd quarter. Macquarie Group Ltd. now owns 1,419,669 shares of the industrial products company’s stock valued at $61,557,000 after buying an additional 267,797 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Worthington Industries by 1,435.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 150,625 shares of the industrial products company’s stock valued at $6,531,000 after buying an additional 140,815 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Worthington Industries by 18.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 55,155 shares of the industrial products company’s stock valued at $2,392,000 after buying an additional 8,581 shares in the last quarter. Vident Investment Advisory LLC raised its stake in shares of Worthington Industries by 33.1% in the 3rd quarter. Vident Investment Advisory LLC now owns 6,544 shares of the industrial products company’s stock valued at $284,000 after buying an additional 1,627 shares in the last quarter. Finally, Crestline Management LP raised its stake in shares of Worthington Industries by 404.1% in the 3rd quarter. Crestline Management LP now owns 77,140 shares of the industrial products company’s stock valued at $3,345,000 after buying an additional 61,838 shares in the last quarter. Institutional investors own 50.89% of the company’s stock.

NYSE:WOR traded down $1.23 during trading hours on Friday, hitting $38.29. 346,834 shares of the company traded hands, compared to its average volume of 195,089. The stock has a market cap of $2.27 billion, a P/E ratio of 13.30 and a beta of 0.83. Worthington Industries has a twelve month low of $38.18 and a twelve month high of $49.93. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, December 13th. Worthington Industries’s dividend payout ratio is 31.94%.

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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