Worthington Industries (WOR) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Worthington Industries (NYSE:WOR) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.02), Briefing.com reports. The company had revenue of $871.30 million during the quarter, compared to the consensus estimate of $823.50 million. Worthington Industries had a net margin of 5.90% and a return on equity of 17.98%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share.
Worthington Industries (NYSE:WOR) traded down $0.05 during midday trading on Wednesday, reaching $44.50. The company’s stock had a trading volume of 247,188 shares, compared to its average volume of 453,312. The company has a quick ratio of 1.36, a current ratio of 2.14 and a debt-to-equity ratio of 0.71. Worthington Industries has a 12-month low of $39.52 and a 12-month high of $53.50. The company has a market capitalization of $2,770.00, a PE ratio of 14.95, a PEG ratio of 3.38 and a beta of 1.10.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, March 14th. Worthington Industries’s dividend payout ratio (DPR) is currently 29.58%.
Several equities research analysts recently issued reports on WOR shares. Zacks Investment Research cut Worthington Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 13th. ValuEngine cut Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $46.50.
Worthington Industries announced that its board has authorized a stock repurchase program on Wednesday, September 27th that allows the company to buyback 6,830,000 shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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About Worthington Industries
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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