Worthington Industries, Inc. (WOR) to Post Q3 2018 Earnings of $0.73 Per Share, KeyCorp Forecasts
Worthington Industries, Inc. (NYSE:WOR) – Stock analysts at KeyCorp issued their Q3 2018 EPS estimates for Worthington Industries in a research note issued on Wednesday. KeyCorp analyst P. Gibbs anticipates that the industrial products company will post earnings per share of $0.73 for the quarter.
Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Zacks Investment Research raised shares of Worthington Industries from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Worthington Industries has an average rating of “Hold” and a consensus target price of $46.50.
Worthington Industries (NYSE:WOR) traded up $1.33 during mid-day trading on Friday, hitting $48.11. 395,400 shares of the stock traded hands, compared to its average volume of 437,163. The company has a market capitalization of $2,950.00, a P/E ratio of 17.56, a P/E/G ratio of 3.60 and a beta of 1.11. Worthington Industries has a 12-month low of $39.52 and a 12-month high of $53.27. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.11 and a quick ratio of 1.32.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Tuesday, December 19th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The business had revenue of $871.30 million for the quarter, compared to the consensus estimate of $823.50 million. Worthington Industries had a net margin of 5.43% and a return on equity of 17.07%. Worthington Industries’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS.
Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in Worthington Industries by 6.4% during the second quarter. Russell Investments Group Ltd. now owns 19,305 shares of the industrial products company’s stock worth $970,000 after buying an additional 1,169 shares during the last quarter. Legal & General Group Plc raised its stake in Worthington Industries by 8.6% during the second quarter. Legal & General Group Plc now owns 57,908 shares of the industrial products company’s stock worth $2,905,000 after buying an additional 4,610 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Worthington Industries by 11.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the industrial products company’s stock worth $115,000 after buying an additional 227 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in Worthington Industries by 2.5% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,763 shares of the industrial products company’s stock worth $328,000 after buying an additional 192 shares during the last quarter. Finally, Systematic Financial Management LP bought a new position in Worthington Industries during the second quarter worth $1,936,000. 54.38% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Peter Karmanos sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $43.82, for a total transaction of $876,400.00. Following the completion of the transaction, the director now owns 65,840 shares of the company’s stock, valued at $2,885,108.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Lamprinakos sold 7,500 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $44.96, for a total transaction of $337,200.00. Following the transaction, the insider now directly owns 70,751 shares of the company’s stock, valued at approximately $3,180,964.96. The disclosure for this sale can be found here. Insiders have sold 72,876 shares of company stock valued at $3,290,460 in the last ninety days. Insiders own 31.30% of the company’s stock.
Worthington Industries declared that its Board of Directors has authorized a share repurchase program on Wednesday, September 27th that permits the company to buyback 6,830,000 shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Wednesday, March 14th. Worthington Industries’s payout ratio is currently 30.66%.
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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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