Worthington Industries (NYSE:WOR) Issues Earnings Results

Worthington Industries (NYSE:WOR) released its quarterly earnings data on Thursday. The industrial products company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.23, Briefing.com reports. Worthington Industries had a return on equity of 15.82% and a net margin of 2.96%. The company had revenue of $611.60 million for the quarter, compared to analyst estimates of $653.00 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The firm’s revenue for the quarter was down 34.9% compared to the same quarter last year.

WOR stock opened at $36.93 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.38 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.96 billion, a PE ratio of 20.86 and a beta of 1.20. Worthington Industries has a 12-month low of $19.28 and a 12-month high of $44.69. The business’s fifty day moving average price is $30.59 and its 200 day moving average price is $32.72.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Monday, September 14th. This is an increase from Worthington Industries’s previous quarterly dividend of $0.24. Worthington Industries’s payout ratio is currently 34.66%.

A number of equities research analysts have commented on WOR shares. Zacks Investment Research downgraded Worthington Industries from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. ValuEngine downgraded Worthington Industries from a “hold” rating to a “sell” rating in a report on Thursday, April 9th. Finally, Cfra upgraded Worthington Industries from a “sell” rating to a “hold” rating in a report on Monday, March 30th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company has an average rating of “Hold” and an average price target of $31.50.

In other news, CFO Joseph B. Hayek acquired 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were purchased at an average price of $26.25 per share, for a total transaction of $39,375.00. Following the acquisition, the chief financial officer now owns 118,315 shares of the company’s stock, valued at $3,105,768.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 34.80% of the stock is currently owned by insiders.

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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Earnings History for Worthington Industries (NYSE:WOR)

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