S&P 500   3,998.84
DOW   33,947.10
QQQ   287.64
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3 Signs the Stock Market Outlook is Improving
S&P 500   3,998.84
DOW   33,947.10
QQQ   287.64
All the Cloud Storage You Need Is on Sale for the Holidays
Why is Russia reopening dormant copper mines? (Ad)
Tesla Shares Are Sliding, Here’s Why
Is Big Lots the Next Bed Bath & Beyond Disaster in the Making?
Why is Russia reopening dormant copper mines? (Ad)
Lockheed teams with Israel's Rafael on laser defense
Russian oil price cap, EU ban aim to limit Kremlin war chest
Why is Russia reopening dormant copper mines? (Ad)
World Cup fans find booze at hotels, Qatar's 1 liquor store
3 Signs the Stock Market Outlook is Improving
S&P 500   3,998.84
DOW   33,947.10
QQQ   287.64
All the Cloud Storage You Need Is on Sale for the Holidays
Why is Russia reopening dormant copper mines? (Ad)
Tesla Shares Are Sliding, Here’s Why
Is Big Lots the Next Bed Bath & Beyond Disaster in the Making?
Why is Russia reopening dormant copper mines? (Ad)
Lockheed teams with Israel's Rafael on laser defense
Russian oil price cap, EU ban aim to limit Kremlin war chest
Why is Russia reopening dormant copper mines? (Ad)
World Cup fans find booze at hotels, Qatar's 1 liquor store
3 Signs the Stock Market Outlook is Improving
S&P 500   3,998.84
DOW   33,947.10
QQQ   287.64
All the Cloud Storage You Need Is on Sale for the Holidays
Why is Russia reopening dormant copper mines? (Ad)
Tesla Shares Are Sliding, Here’s Why
Is Big Lots the Next Bed Bath & Beyond Disaster in the Making?
Why is Russia reopening dormant copper mines? (Ad)
Lockheed teams with Israel's Rafael on laser defense
Russian oil price cap, EU ban aim to limit Kremlin war chest
Why is Russia reopening dormant copper mines? (Ad)
World Cup fans find booze at hotels, Qatar's 1 liquor store
3 Signs the Stock Market Outlook is Improving

Worthington Industries, Inc. Forecasted to Post FY2023 Earnings of $3.88 Per Share (NYSE:WOR)

Worthington Industries, Inc. (NYSE:WOR - Get Rating) - Stock analysts at KeyCorp cut their FY2023 earnings per share (EPS) estimates for shares of Worthington Industries in a research report issued to clients and investors on Monday, November 21st. KeyCorp analyst P. Gibbs now forecasts that the industrial products company will post earnings per share of $3.88 for the year, down from their prior estimate of $4.25. The consensus estimate for Worthington Industries' current full-year earnings is $5.34 per share. KeyCorp also issued estimates for Worthington Industries' FY2024 earnings at $4.15 EPS.

Several other equities research analysts have also issued reports on the company. BMO Capital Markets reduced their price target on Worthington Industries from $58.00 to $52.00 and set a "market perform" rating for the company in a report on Friday, September 30th. StockNews.com began coverage on Worthington Industries in a report on Wednesday, October 12th. They issued a "hold" rating for the company.

Worthington Industries Stock Up 1.0 %


Shares of Worthington Industries stock opened at $57.42 on Wednesday. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 9.31 and a beta of 1.17. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.17 and a quick ratio of 1.25. Worthington Industries has a 52-week low of $38.01 and a 52-week high of $62.83. The stock has a 50-day simple moving average of $48.35 and a 200-day simple moving average of $47.77.

Worthington Industries (NYSE:WOR - Get Rating) last announced its quarterly earnings results on Thursday, September 29th. The industrial products company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.35 billion. Worthington Industries had a return on equity of 19.95% and a net margin of 5.61%. The firm's revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 EPS.

Worthington Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $1.24 annualized dividend and a yield of 2.16%. Worthington Industries's dividend payout ratio (DPR) is currently 20.10%.

Insider Buying and Selling

In related news, Director David P. Blom bought 5,000 shares of Worthington Industries stock in a transaction that occurred on Friday, September 30th. The stock was purchased at an average cost of $41.29 per share, for a total transaction of $206,450.00. Following the acquisition, the director now owns 17,200 shares in the company, valued at $710,188. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 39.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Worthington Industries by 13.0% during the first quarter. BlackRock Inc. now owns 4,571,279 shares of the industrial products company's stock valued at $235,012,000 after purchasing an additional 526,776 shares during the period. Vanguard Group Inc. grew its position in Worthington Industries by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,328,906 shares of the industrial products company's stock valued at $171,139,000 after acquiring an additional 12,047 shares during the period. Dimensional Fund Advisors LP grew its position in Worthington Industries by 7.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,121,530 shares of the industrial products company's stock valued at $80,929,000 after acquiring an additional 152,772 shares during the period. State Street Corp grew its position in Worthington Industries by 18.1% in the first quarter. State Street Corp now owns 2,010,543 shares of the industrial products company's stock valued at $103,362,000 after acquiring an additional 307,667 shares during the period. Finally, Victory Capital Management Inc. grew its position in Worthington Industries by 28.6% in the third quarter. Victory Capital Management Inc. now owns 1,870,426 shares of the industrial products company's stock valued at $71,338,000 after acquiring an additional 415,442 shares during the period. 53.29% of the stock is owned by institutional investors.

About Worthington Industries

(Get Rating)

Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing, manufactured consumer, building, and sustainable mobility products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments.

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Earnings History and Estimates for Worthington Industries (NYSE:WOR)

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