Analysts expect that Worthington Industries, Inc. (NYSE:WOR) will announce sales of $1.25 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Worthington Industries' earnings, with estimates ranging from $1.19 billion to $1.31 billion. Worthington Industries posted sales of $731.09 million in the same quarter last year, which suggests a positive year-over-year growth rate of 71%. The company is scheduled to issue its next earnings results on Thursday, December 16th.
On average, analysts expect that Worthington Industries will report full-year sales of $4.53 billion for the current fiscal year, with estimates ranging from $4.48 billion to $4.58 billion. For the next financial year, analysts forecast that the company will report sales of $3.33 billion, with estimates ranging from $2.85 billion to $3.81 billion. Zacks' sales averages are an average based on a survey of sell-side research firms that follow Worthington Industries.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Tuesday, September 28th. The industrial products company reported $2.46 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $1.91 by $0.55. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $981.00 million. Worthington Industries had a net margin of 22.82% and a return on equity of 17.42%. The company's quarterly revenue was up 57.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share.
Several analysts have recently commented on the stock. Seaport Res Ptn reissued a "neutral" rating on shares of Worthington Industries in a research note on Monday, August 23rd. Zacks Investment Research raised shares of Worthington Industries from a "hold" rating to a "buy" rating and set a $59.00 price target on the stock in a research note on Thursday, September 23rd. Finally, Seaport Global Securities assumed coverage on shares of Worthington Industries in a research note on Monday, August 23rd. They set a "neutral" rating on the stock.
In other Worthington Industries news, Director Ozey K. Horton, Jr. sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $62.30, for a total value of $62,300.00. Following the transaction, the director now directly owns 35,469 shares of the company's stock, valued at $2,209,718.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 37.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Worthington Industries by 2.1% in the second quarter. Vanguard Group Inc. now owns 3,755,837 shares of the industrial products company's stock worth $229,782,000 after purchasing an additional 75,839 shares during the period. Geode Capital Management LLC raised its holdings in Worthington Industries by 3.0% in the second quarter. Geode Capital Management LLC now owns 695,170 shares of the industrial products company's stock worth $42,530,000 after purchasing an additional 20,358 shares during the period. JPMorgan Chase & Co. raised its holdings in Worthington Industries by 19.6% in the first quarter. JPMorgan Chase & Co. now owns 258,465 shares of the industrial products company's stock worth $17,340,000 after purchasing an additional 42,392 shares during the period. Goldman Sachs Group Inc. raised its holdings in Worthington Industries by 30.0% in the second quarter. Goldman Sachs Group Inc. now owns 193,558 shares of the industrial products company's stock worth $11,842,000 after purchasing an additional 44,670 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Worthington Industries by 32.2% during the second quarter. Invesco Ltd. now owns 173,876 shares of the industrial products company's stock worth $10,637,000 after acquiring an additional 42,311 shares during the period. Institutional investors own 46.75% of the company's stock.
WOR opened at $51.72 on Thursday. Worthington Industries has a one year low of $45.77 and a one year high of $75.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.50 and a quick ratio of 1.78. The company's 50 day simple moving average is $56.18 and its 200-day simple moving average is $61.61. The stock has a market capitalization of $2.67 billion, a P/E ratio of 3.91 and a beta of 1.06.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 29th. Shareholders of record on Wednesday, December 15th will be paid a $0.28 dividend. The ex-dividend date is Tuesday, December 14th. This represents a $1.12 dividend on an annualized basis and a yield of 2.17%. Worthington Industries's payout ratio is presently 22.09%.
Worthington Industries Company Profile
Worthington Industries, Inc engages in processing of value-added steel and manufacturing of metal products. It operates through the following segments: Steel Processing and Pressure Cylinders. The Steel Processing segment consists of Worthington Steel business unit and consolidated joint ventures, which operates steel business and its prices.
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