Worthington Enterprises, Inc. (NYSE:WOR) Receives $59.00 Consensus Price Target from Brokerages

Shares of Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) have earned an average recommendation of "Moderate Buy" from the four research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $59.00.

Several equities research analysts have commented on WOR shares. The Goldman Sachs Group boosted their target price on Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, June 26th. Canaccord Genuity Group boosted their target price on Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, June 26th.

Worthington Enterprises Stock Down 0.8%

Shares of NYSE WOR traded down $0.51 during mid-day trading on Thursday, hitting $61.70. 270,217 shares of the stock traded hands, compared to its average volume of 307,776. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 3.48. Worthington Enterprises has a 52 week low of $37.88 and a 52 week high of $70.91. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 32.30 and a beta of 1.19. The stock has a fifty day moving average price of $61.23 and a 200-day moving average price of $50.99.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.22. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%. The company had revenue of $317.88 million for the quarter, compared to analyst estimates of $300.96 million. During the same period in the previous year, the company posted $0.74 earnings per share. The firm's revenue was down .3% on a year-over-year basis. Research analysts anticipate that Worthington Enterprises will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.23%. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's dividend payout ratio (DPR) is presently 35.60%.

Hedge Funds Weigh In On Worthington Enterprises

Hedge funds have recently bought and sold shares of the business. CWM LLC increased its position in Worthington Enterprises by 33.5% during the second quarter. CWM LLC now owns 813 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 204 shares during the last quarter. ORG Partners LLC increased its position in Worthington Enterprises by 61.0% during the second quarter. ORG Partners LLC now owns 660 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 250 shares during the last quarter. GAMMA Investing LLC increased its position in Worthington Enterprises by 19.8% during the second quarter. GAMMA Investing LLC now owns 1,969 shares of the industrial products company's stock valued at $125,000 after acquiring an additional 325 shares during the last quarter. Park National Corp OH increased its position in Worthington Enterprises by 3.3% during the second quarter. Park National Corp OH now owns 11,382 shares of the industrial products company's stock valued at $724,000 after acquiring an additional 365 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Worthington Enterprises by 1.4% during the second quarter. Janney Montgomery Scott LLC now owns 27,254 shares of the industrial products company's stock valued at $1,734,000 after acquiring an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

About Worthington Enterprises

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.