Worthington Steel (NYSE:WS) Releases Quarterly Earnings Results, Misses Expectations By $0.35 EPS

Worthington Steel (NYSE:WS) posted its quarterly earnings results on Tuesday. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.35), Zacks reports. Worthington Steel had a return on equity of 8.87% and a net margin of 0.50%.

Worthington Steel Stock Down 1.5%

Shares of WS stock traded down $0.59 on Tuesday, hitting $38.53. The stock had a trading volume of 588,206 shares, compared to its average volume of 291,587. Worthington Steel has a 52-week low of $27.22 and a 52-week high of $49.17. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 27.72 and a beta of 2.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.92 and a current ratio of 1.46. The stock’s 50 day moving average is $35.67 and its 200-day moving average is $36.29.

Analysts Set New Price Targets

Several research firms have recently weighed in on WS. Zacks Research lowered Worthington Steel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 17th. Wall Street Zen lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. KeyCorp reaffirmed an “overweight” rating on shares of Worthington Steel in a research report on Tuesday. Finally, Weiss Ratings downgraded Worthington Steel from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $46.00.

About Worthington Steel

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers in the automotive, construction, energy, industrial and consumer markets. Its offerings include electrical steel, laser-welded and tailor-welded blanks, and other processed steel products designed to meet specific customer requirements.

The company provides services such as slitting, blanking, cold reduction, welding and other steel processing capabilities. Its products are used in applications including automotive components, electrical motors and transformers, building products, pressure vessels and industrial equipment.

Worthington Steel was separated from Worthington Industries as an independent public company in December 2023.