Zacks: Analysts Expect Worthington Industries, Inc. (NYSE:WOR) Will Post Quarterly Sales of $884.95 Million

Brokerages predict that Worthington Industries, Inc. (NYSE:WOR) will post sales of $884.95 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Worthington Industries’ earnings. The highest sales estimate is $924.00 million and the lowest is $845.90 million. Worthington Industries reported sales of $988.11 million in the same quarter last year, which would suggest a negative year over year growth rate of 10.4%. The business is expected to report its next quarterly earnings report on Wednesday, September 25th.

On average, analysts expect that Worthington Industries will report full year sales of $3.55 billion for the current year, with estimates ranging from $3.29 billion to $3.82 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Worthington Industries.

Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Wednesday, June 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $938.80 million during the quarter, compared to the consensus estimate of $986.47 million. Worthington Industries had a net margin of 4.08% and a return on equity of 17.33%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share.

Several equities analysts have recently commented on WOR shares. ValuEngine downgraded shares of Worthington Industries from a “hold” rating to a “sell” rating in a research note on Friday. TheStreet raised shares of Worthington Industries from a “c+” rating to a “b-” rating in a research note on Thursday, July 25th. Finally, Zacks Investment Research downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $44.67.

In other news, Director John B. Blystone acquired 20,941 shares of the stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $39.86 per share, with a total value of $834,708.26. Following the completion of the purchase, the director now owns 185,311 shares in the company, valued at approximately $7,386,496.46. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Blystone acquired 644 shares of the stock in a transaction dated Monday, July 1st. The shares were purchased at an average cost of $40.00 per share, with a total value of $25,760.00. Following the completion of the purchase, the director now owns 185,311 shares of the company’s stock, valued at approximately $7,412,440. The disclosure for this purchase can be found here. Corporate insiders own 34.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in Worthington Industries in the second quarter worth about $36,000. American Research & Management Co. bought a new position in Worthington Industries in the first quarter worth about $37,000. Pearl River Capital LLC bought a new position in Worthington Industries in the first quarter worth about $90,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Worthington Industries by 17.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,581 shares of the industrial products company’s stock worth $104,000 after buying an additional 392 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Worthington Industries by 74.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,588 shares of the industrial products company’s stock worth $104,000 after buying an additional 1,104 shares in the last quarter. 48.13% of the stock is owned by institutional investors.

Shares of NYSE:WOR traded down $0.31 during midday trading on Tuesday, hitting $35.41. 144,800 shares of the stock traded hands, compared to its average volume of 223,908. The stock has a market capitalization of $1.95 billion, a PE ratio of 12.78 and a beta of 1.15. The business’s 50 day moving average is $38.66 and its two-hundred day moving average is $38.04. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.63. Worthington Industries has a one year low of $31.42 and a one year high of $47.51.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.71%. This is an increase from Worthington Industries’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, September 12th. Worthington Industries’s dividend payout ratio is 33.21%.

Worthington Industries Company Profile

Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.

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Earnings History and Estimates for Worthington Industries (NYSE:WOR)

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