Worthington Industries (NYSE:WOR) Issues Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Worthington Industries (NYSE:WOR) issued its quarterly earnings results on Thursday. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $611.60 million for the quarter, compared to analysts’ expectations of $653.00 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was down 34.9% on a year-over-year basis.

Shares of NYSE:WOR opened at $36.93 on Friday. The business’s 50 day simple moving average is $30.59 and its 200-day simple moving average is $32.72. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 20.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.15 and a quick ratio of 1.38. Worthington Industries has a 12 month low of $19.28 and a 12 month high of $44.69.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.25 per share. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.71%. Worthington Industries’s payout ratio is 34.66%.

In other news, CFO Joseph B. Hayek purchased 1,500 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were acquired at an average price of $26.25 per share, with a total value of $39,375.00. Following the purchase, the chief financial officer now directly owns 118,315 shares of the company’s stock, valued at $3,105,768.75. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 34.80% of the stock is owned by insiders.

WOR has been the topic of a number of analyst reports. ValuEngine lowered Worthington Industries from a “hold” rating to a “sell” rating in a report on Thursday, April 9th. Zacks Investment Research lowered Worthington Industries from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Cfra raised Worthington Industries from a “sell” rating to a “hold” rating in a report on Monday, March 30th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Worthington Industries currently has a consensus rating of “Hold” and an average price target of $31.50.

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 for Worthington Industries (NYSE:WOR)

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