Q2 2017 Earnings Estimate for Worthington Industries Inc. Issued By Jefferies Group (WOR)
Worthington Industries Inc. (NYSE:WOR) – Stock analysts at Jefferies Group boosted their Q2 2017 earnings estimates for Worthington Industries in a research note issued on Wednesday. Jefferies Group analyst S. Rosenfeld now expects that the brokerage will post earnings per share of $0.83 for the quarter, up from their previous estimate of $0.78. Jefferies Group currently has a “Hold” rating and a $42.00 target price on the stock. Jefferies Group also issued estimates for Worthington Industries’ Q3 2017 earnings at $0.61 EPS.
Worthington Industries (NYSE:WOR) last announced its earnings results on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.26. The company earned $737.50 million during the quarter. Worthington Industries had a net margin of 6.32% and a return on equity of 22.46%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS.
Several other research analysts have also recently weighed in on WOR. Zacks Investment Research cut Worthington Industries from a “buy” rating to a “hold” rating in a research report on Friday, June 3rd. JPMorgan Chase & Co. restated a “hold” rating on shares of Worthington Industries in a research report on Thursday, June 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $38.25.
Shares of Worthington Industries (NYSE:WOR) opened at 47.23 on Thursday. The stock has a market cap of $2.94 billion, a P/E ratio of 17.10 and a beta of 1.50. Worthington Industries has a one year low of $25.50 and a one year high of $48.50. The stock has a 50 day moving average of $42.86 and a 200 day moving average of $39.88.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 13th. Worthington Industries’s dividend payout ratio (DPR) is presently 28.99%.
In other news, VP Dale T. Brinkman sold 4,188 shares of Worthington Industries stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $42.10, for a total value of $176,314.80. Following the sale, the vice president now directly owns 57,336 shares of the company’s stock, valued at $2,413,845.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geoffrey G. Gilmore sold 11,079 shares of Worthington Industries stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $42.73, for a total value of $473,405.67. Following the completion of the sale, the insider now directly owns 52,469 shares in the company, valued at $2,242,000.37. The disclosure for this sale can be found here. 32.00% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of Worthington Industries by 68.6% in the second quarter. LS Investment Advisors LLC now owns 2,699 shares of the company’s stock worth $114,000 after buying an additional 1,098 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Worthington Industries during the second quarter worth about $115,000. Meeder Asset Management Inc. purchased a new stake in shares of Worthington Industries during the second quarter worth about $115,000. Tower Research Capital LLC TRC purchased a new stake in shares of Worthington Industries during the second quarter worth about $122,000. Finally, Acrospire Investment Management LLC raised its stake in shares of Worthington Industries by 45.5% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock worth $135,000 after buying an additional 1,000 shares in the last quarter. 50.94% of the stock is currently owned by hedge funds and other institutional investors.
Worthington Industries Company Profile
Worthington Industries, Inc is a diversified metals manufacturing company. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s Steel Processing segment consists of the Worthington Steel business unit, Precision Specialty Metals, Inc and Worthington Steelpac Systems, LLC and also includes two consolidated joint ventures: Spartan Steel Coating, LLC, which operates a cold-rolled hot dipped galvanizing line in Monroe, Michigan, and TWB Company, LLC., which operates a laser welded blank business.
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