KeyCorp Comments on Worthington Industries Inc.’s Q2 2017 Earnings (WOR)
Worthington Industries Inc. (NYSE:WOR) – Stock analysts at KeyCorp lowered their Q2 2017 earnings per share (EPS) estimates for shares of Worthington Industries in a research note issued to investors on Wednesday. KeyCorp analyst P. Gibbs now forecasts that the firm will post earnings per share of $0.68 for the quarter, down from their previous estimate of $0.70.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, September 28th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The firm earned $737.50 million during the quarter. Worthington Industries had a return on equity of 21.60% and a net margin of 6.32%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 earnings per share.
Several other analysts have also weighed in on WOR. Jefferies Group reissued a “hold” rating and issued a $42.00 target price (up previously from $37.00) on shares of Worthington Industries in a report on Thursday, September 29th. Zacks Investment Research lowered Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Worthington Industries has a consensus rating of “Buy” and a consensus target price of $41.00.
Shares of Worthington Industries (NYSE:WOR) opened at 58.99 on Monday. Worthington Industries has a 12 month low of $25.50 and a 12 month high of $59.42. The company’s 50 day moving average price is $49.91 and its 200-day moving average price is $43.50. The firm has a market capitalization of $3.75 billion, a P/E ratio of 21.36 and a beta of 1.29.
Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new stake in shares of Worthington Industries during the third quarter valued at about $100,000. Smithfield Trust Co. bought a new stake in shares of Worthington Industries during the third quarter valued at about $129,000. LS Investment Advisors LLC increased 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 valued at $114,000 after buying an additional 1,098 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Worthington Industries during the third quarter valued at about $130,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Worthington Industries during the second quarter valued at about $115,000. Institutional investors and hedge funds own 50.33% of the company’s stock.
The business 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. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.36%. Worthington Industries’s dividend payout ratio is currently 28.99%.
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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