Worthington Industries Inc. to Post FY2017 Earnings of $3.30 Per Share, KeyCorp Forecasts (WOR)
Worthington Industries Inc. (NYSE:WOR) – KeyCorp boosted their FY2017 earnings per share (EPS) estimates for Worthington Industries in a research note issued on Wednesday. KeyCorp analyst P. Gibbs now forecasts that the firm will post earnings of $3.30 per share for the year, up from their prior estimate of $3.13. KeyCorp also issued estimates for Worthington Industries’ FY2018 earnings at $3.20 EPS.
WOR has been the topic of several other research reports. Zacks Investment Research cut shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Jefferies Group reaffirmed a “hold” rating and set a $37.00 target price on shares of Worthington Industries in a research note on Friday, September 16th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.00.
Worthington Industries (NYSE:WOR) opened at 58.44 on Friday. The company has a market capitalization of $3.71 billion, a PE ratio of 21.16 and a beta of 1.29. Worthington Industries has a one year low of $25.50 and a one year high of $58.49. The firm’s 50-day moving average is $47.83 and its 200 day moving average is $42.52.
Worthington Industries (NYSE:WOR) last issued its earnings results on Wednesday, September 28th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.26. Worthington Industries had a net margin of 6.32% and a return on equity of 21.60%. The company had revenue of $737.50 million for the quarter. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. Worthington Industries’s payout ratio is 28.99%.
Several hedge funds and other institutional investors have recently made changes to their positions in WOR. Piedmont Investment Advisors LLC purchased a new position in shares of Worthington Industries during the third quarter valued at $620,000. LPL Financial LLC bought a new stake in shares of Worthington Industries during the third quarter valued at about $213,000. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Worthington Industries by 183.2% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 72,794 shares of the company’s stock valued at $3,495,000 after buying an additional 47,094 shares during the period. Cookson Peirce & Co. Inc. bought a new stake in shares of Worthington Industries during the third quarter valued at about $1,905,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Worthington Industries by 65.1% in the third quarter. Ameritas Investment Partners Inc. now owns 17,174 shares of the company’s stock valued at $825,000 after buying an additional 6,769 shares during the period. 50.96% of the stock is currently owned by hedge funds and other institutional investors.
Worthington Industries Company Profile
Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.
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