Q2 2017 Earnings Estimate for Worthington Industries Inc. Issued By Jefferies Group (WOR)
Worthington Industries Inc. (NYSE:WOR) – Investment analysts at Jefferies Group issued their Q2 2017 earnings estimates for Worthington Industries in a report released on Thursday. Jefferies Group analyst S. Rosenfeld expects that the brokerage will post earnings per share of $0.78 for the quarter. Jefferies Group currently has a “Hold” rating and a $37.00 price objective on the stock. Jefferies Group also issued estimates for Worthington Industries’ Q3 2017 earnings at $0.56 EPS, Q4 2017 earnings at $0.50 EPS and FY2018 earnings at $2.45 EPS.
Several other research firms have also recently weighed in on WOR. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Worthington Industries in a report on Thursday, June 30th. Zacks Investment Research cut Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Worthington Industries has a consensus rating of “Hold” and a consensus price target of $37.00.
Worthington Industries (NYSE:WOR) opened at 41.06 on Monday. The stock has a market cap of $2.62 billion, a PE ratio of 18.50 and a beta of 1.50. The company’s 50 day moving average price is $42.57 and its 200 day moving average price is $39.34. Worthington Industries has a 12 month low of $21.10 and a 12 month high of $45.68.
Worthington Industries (NYSE:WOR) last announced its earnings results on Wednesday, June 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.28. The company had revenue of $714.70 million for the quarter. Worthington Industries had a return on equity of 18.83% and a net margin of 5.06%. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.95%. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.19. Worthington Industries’s dividend payout ratio is currently 36.04%.
In related news, VP Dale T. Brinkman sold 4,188 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $42.10, for a total transaction of $176,314.80. Following the completion of the transaction, the vice president now owns 57,336 shares of the company’s stock, valued at approximately $2,413,845.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Catherine M. Lyttle sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $42.37, for a total value of $158,887.50. Following the transaction, the vice president now directly owns 25,488 shares of the company’s stock, valued at approximately $1,079,926.56. The disclosure for this sale can be found here. 32.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of WOR. LS Investment Advisors LLC raised its position in Worthington Industries by 68.6% in the second quarter. LS Investment Advisors LLC now owns 2,699 shares of the company’s stock worth $114,000 after buying an additional 1,098 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in Worthington Industries during the second quarter worth $115,000. Meeder Asset Management Inc. bought a new position in Worthington Industries during the second quarter worth $115,000. Tower Research Capital LLC TRC bought a new position in Worthington Industries during the second quarter worth $122,000. Finally, Acrospire Investment Management LLC raised its position in Worthington Industries by 45.5% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock worth $135,000 after buying an additional 1,000 shares during the period. 51.90% of the stock is owned by institutional investors.
About Worthington Industries
Worthington Industries, Inc is a diversified metals manufacturing company. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s Steel Processing segment consists of the Worthington Steel business unit, Precision Specialty Metals, Inc and Worthington Steelpac Systems, LLC and also includes two consolidated joint ventures: Spartan Steel Coating, LLC, which operates a cold-rolled hot dipped galvanizing line in Monroe, Michigan, and TWB Company, LLC., which operates a laser welded blank business.
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