Worthington Steel, Inc. (NYSE:WS) Shares Will Pay Quarterly Dividend of $0.16

Key Points

• Worthington Steel declared a quarterly dividend of $0.16 per share, equivalent to $0.64 annually and a 1.7% yield. The dividend is payable December 28 to shareholders of record as of December 14, with December 14 also listed as the ex-dividend date.
• The company reported quarterly EPS of $0.57, missing analysts’ $1.16 estimate, while revenue reached $2.73 billion versus expectations of $3.14 billion. Revenue nevertheless increased 212.4% year over year.
• Analyst sentiment is largely cautious, with a consensus “Hold” rating and a $46 price target; shares opened at $38.53 and were reported down 1.5%.

Worthington Steel, Inc. (NYSE:WS - Get Free Report) announced a quarterly dividend on Tuesday, October 6th. Investors of record on Monday, December 14th will be given a dividend of $0.16 per share on Monday, December 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, December 14th.

Worthington Steel Stock Down 1.5%

Shares of NYSE:WS opened at $38.53 on Wednesday. The firm has a fifty day moving average price of $35.68 and a two-hundred day moving average price of $36.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.46 and a quick ratio of 0.92. Worthington Steel has a one year low of $27.22 and a one year high of $49.17. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 27.72 and a beta of 2.24.

Worthington Steel (NYSE:WS - Get Free Report) last released its quarterly earnings results on Tuesday, October 6th. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.59). The firm had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $3.14 billion. Worthington Steel had a net margin of 0.50% and a return on equity of 8.87%. The firm's revenue for the quarter was up 212.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. Analysts anticipate that Worthington Steel will post 4.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WS shares. KeyCorp reissued an "overweight" rating on shares of Worthington Steel in a research note on Tuesday. Wall Street Zen cut Worthington Steel from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings downgraded Worthington Steel from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Finally, Zacks Research downgraded Worthington Steel from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 17th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $46.00.

About Worthington Steel

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers in the automotive, construction, energy, industrial and consumer markets. Its offerings include electrical steel, laser-welded and tailor-welded blanks, and other processed steel products designed to meet specific customer requirements.

The company provides services such as slitting, blanking, cold reduction, welding and other steel processing capabilities. Its products are used in applications including automotive components, electrical motors and transformers, building products, pressure vessels and industrial equipment.

Worthington Steel was separated from Worthington Industries as an independent public company in December 2023.

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