Worthington Industries Inc. (WOR) Expected to Post FY2018 Earnings of $3.05 Per Share
Worthington Industries Inc. (NYSE:WOR) – Equities research analysts at KeyCorp issued their FY2018 EPS estimates for shares of Worthington Industries in a research note issued on Wednesday. KeyCorp analyst P. Gibbs anticipates that the firm will earn $3.05 per share for the year.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Worthington Industries had a return on equity of 21.60% and a net margin of 6.32%. The company earned $737.50 million during the quarter. During the same period last year, the firm posted $0.54 EPS. Worthington Industries’s quarterly revenue was down 2.7% on a year-over-year basis.
Several other equities analysts have also weighed in on the company. Jefferies Group reissued a “hold” rating and set a $37.00 price objective on shares of Worthington Industries in a report on Friday, September 16th. Zacks Investment Research raised Worthington Industries from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Friday, June 17th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Worthington Industries in a report on Thursday, June 30th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $41.00.
Worthington Industries (NYSE:WOR) traded up 0.51% during trading on Monday, hitting $47.41. The stock had a trading volume of 89,363 shares. Worthington Industries has a 52 week low of $25.50 and a 52 week high of $48.50. The company has a 50-day moving average of $43.33 and a 200-day moving average of $40.23. The stock has a market capitalization of $2.95 billion, a P/E ratio of 17.17 and a beta of 1.43.
Several institutional investors have recently bought and sold shares of WOR. LS Investment Advisors LLC raised its position in 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 during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Worthington Industries during the second quarter worth approximately $115,000. Meeder Asset Management Inc. bought a new position in Worthington Industries during the second quarter worth approximately $115,000. Tower Research Capital LLC TRC bought a new position in Worthington Industries during the second quarter worth approximately $122,000. Finally, Acrospire Investment Management LLC raised its position in 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 during the last quarter. 50.94% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Dale T. Brinkman sold 4,188 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 57,336 shares of the company’s stock, valued at $2,413,845.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Geoffrey G. Gilmore sold 11,079 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 52,469 shares of the company’s stock, valued at $2,242,000.37. The disclosure for this sale can be found here. 32.00% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, December 13th. Worthington Industries’s payout ratio is currently 28.99%.
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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