Worthington Steel, Inc. (NYSE:WS) Plans Quarterly Dividend of $0.16

Key Points

• Worthington Steel, Inc. has announced a quarterly dividend of $0.16 per share, payable on December 26th to stockholders of record on December 18th, reflecting an annualized yield of 1.9%.
• The company reported a quarterly EPS of $0.77, exceeding analyst expectations of $0.72, with a revenue of $872.90 million, up 4.7% year-over-year.
• Worthington Steel's stock has received a consensus "Buy" rating from analysts, with a raised target price of $36.00 from KeyCorp, indicating positive market sentiment.

Worthington Steel, Inc. (NYSE:WS - Get Free Report) declared a quarterly dividend on Wednesday, September 24th, RTT News reports. Stockholders of record on Thursday, December 18th will be given a dividend of 0.16 per share on Friday, December 26th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, December 12th.

Worthington Steel Price Performance

NYSE WS opened at $34.02 on Thursday. The company has a market cap of $1.73 billion, a PE ratio of 15.61 and a beta of 1.89. The stock's 50 day simple moving average is $32.10 and its 200-day simple moving average is $28.46. Worthington Steel has a 1-year low of $21.30 and a 1-year high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings results on Wednesday, September 24th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%.The firm had revenue of $872.90 million during the quarter, compared to analysts' expectations of $785.30 million. During the same quarter last year, the firm earned $0.56 earnings per share. The business's revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Worthington Steel will post 2.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on WS shares. Wall Street Zen raised Worthington Steel from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. KeyCorp raised their target price on Worthington Steel from $34.00 to $36.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $36.00.

About Worthington Steel

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.

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