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

Worthington Industries (NYSE:WOR) announced its quarterly earnings results on Thursday. The industrial products company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.23, Briefing.com reports. Worthington Industries had a net margin of 2.96% and a return on equity of 15.82%. The business had revenue of $611.60 million for the quarter, compared to analysts’ expectations of $653.00 million. During the same quarter last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was down 34.9% compared to the same quarter last year.

Worthington Industries stock opened at $36.93 on Friday. Worthington Industries has a 52 week low of $19.28 and a 52 week high of $44.69. The company’s 50 day moving average price is $30.59 and its two-hundred day moving average price is $32.72. The company has a quick ratio of 1.38, a current ratio of 2.15 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.96 billion, a P/E ratio of 20.86 and a beta of 1.20.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.71%. This is a boost from Worthington Industries’s previous quarterly dividend of $0.24. Worthington Industries’s dividend payout ratio (DPR) is currently 34.66%.

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

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Worthington Industries from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. ValuEngine cut shares of Worthington Industries from a “hold” rating to a “sell” rating in a research report on Thursday, April 9th. Finally, Cfra raised shares of Worthington Industries from a “sell” rating to a “hold” rating in a research report on Monday, March 30th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.50.

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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