Worthington Enterprises (NYSE:WOR) Announces Earnings Results

Worthington Enterprises (NYSE:WOR) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08, Briefing.com reports. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The firm had revenue of $274.05 million for the quarter, compared to analysts’ expectations of $273.77 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year.

Worthington Enterprises Stock Performance

Shares of NYSE:WOR traded down $0.48 during trading on Tuesday, hitting $38.20. The company’s stock had a trading volume of 401,879 shares, compared to its average volume of 272,192. Worthington Enterprises has a 12 month low of $37.88 and a 12 month high of $69.96. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 50.89 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34. The company has a 50-day moving average of $40.35 and a 200-day moving average of $44.51.

Worthington Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 annualized dividend and a yield of 1.78%. Worthington Enterprises’s dividend payout ratio is 89.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WOR. Canaccord Genuity Group decreased their price target on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Canaccord Genuity Group reiterated a “hold” rating and set a $46.00 price objective on shares of Worthington Enterprises in a research report on Friday, October 4th. Finally, StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th.

Insiders Place Their Bets

In other Worthington Enterprises news, CFO Joseph B. Hayek bought 2,500 shares of Worthington Enterprises stock in a transaction dated Friday, October 11th. The shares were purchased at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the acquisition, the chief financial officer now directly owns 168,875 shares in the company, valued at approximately $6,790,463.75. This represents a 1.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 37.50% of the company’s stock.

About Worthington Enterprises

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.