Worthington Steel (NYSE:WS) Announces Quarterly Earnings Results

Worthington Steel (NYSE:WS) posted its earnings results on Wednesday. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01), Zacks reports. Worthington Steel had a net margin of 3.83% and a return on equity of 10.83%. The firm had revenue of $871.90 million for the quarter, compared to analysts’ expectations of $797.25 million. During the same period in the previous year, the company earned $0.19 EPS. The company’s revenue was up 18.0% on a year-over-year basis.

Worthington Steel Trading Up 0.6%

Shares of WS stock opened at $36.16 on Friday. Worthington Steel has a fifty-two week low of $21.30 and a fifty-two week high of $38.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.97 and a current ratio of 1.66. The stock’s fifty day moving average is $32.65 and its two-hundred day moving average is $31.34. The firm has a market capitalization of $1.84 billion, a P/E ratio of 22.74 and a beta of 1.72.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.16 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.8%. Worthington Steel’s dividend payout ratio (DPR) is presently 40.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Steel in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Worthington Steel from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, KeyCorp raised their price objective on Worthington Steel from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Hedge Funds Weigh In On Worthington Steel

Several hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in Worthington Steel by 149.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,354 shares of the company’s stock valued at $70,000 after acquiring an additional 1,412 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Worthington Steel by 50.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,492 shares of the company’s stock worth $104,000 after purchasing an additional 1,178 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Worthington Steel by 15.8% in the third quarter. Raymond James Financial Inc. now owns 9,449 shares of the company’s stock valued at $287,000 after purchasing an additional 1,291 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Worthington Steel in the second quarter valued at approximately $289,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Worthington Steel in the second quarter valued at approximately $313,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Company Profile

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.