Research Analysts Offer Predictions for Worthington Industries, Inc.’s FY2018 Earnings (WOR)

Worthington Industries, Inc. (NYSE:WOR) – Analysts at KeyCorp reduced their FY2018 EPS estimates for Worthington Industries in a research report issued to clients and investors on Tuesday. KeyCorp analyst P. Gibbs now anticipates that the brokerage will post earnings of $3.15 per share for the year, down from their previous forecast of $3.20.

Worthington Industries (NYSE:WOR) last issued its earnings results on Monday, December 19th. The company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.08. The firm had revenue of $727.80 million for the quarter. Worthington Industries had a net margin of 7.08% and a return on equity of 21.45%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share.

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

WOR has been the subject of a number of other research reports. Jefferies Group LLC cut Worthington Industries from a “hold” rating to an “underperform” rating and set a $45.00 target price for the company. in a report on Monday, December 12th. Macquarie cut Worthington Industries from a “neutral” rating to an “underperform” rating in a report on Tuesday, November 29th. Finally, Zacks Investment Research cut Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $44.67.

Shares of Worthington Industries (NYSE:WOR) traded down 1.57% during midday trading on Friday, reaching $49.64. The company’s stock had a trading volume of 110,162 shares. Worthington Industries has a one year low of $29.37 and a one year high of $62.44. The company has a market capitalization of $3.16 billion, a P/E ratio of 15.93 and a beta of 1.29. The stock’s 50-day moving average is $47.98 and its 200-day moving average is $48.32.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 15th will be given a $0.20 dividend. The ex-dividend date is Monday, March 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.59%. Worthington Industries’s dividend payout ratio (DPR) is presently 25.64%.

This piece was first published by Web Breaking News and is owned by of Web Breaking News. If you are reading this piece on another site, it was illegally stolen and republished in violation of US & international copyright legislation. The legal version of this piece can be read at http://www.webbreakingnews.com/2017/02/17/research-analysts-offer-predictions-for-worthington-industries-inc-s-fy2018-earnings-wor.html.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Worthington Industries by 15.3% in the second quarter. Vanguard Group Inc. now owns 4,021,632 shares of the company’s stock valued at $170,116,000 after buying an additional 533,763 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Worthington Industries by 4.3% in the third quarter. BlackRock Fund Advisors now owns 2,375,212 shares of the company’s stock valued at $114,081,000 after buying an additional 97,352 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Worthington Industries by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,898,271 shares of the company’s stock valued at $90,056,000 after buying an additional 46,009 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Worthington Industries by 26.5% in the fourth quarter. AQR Capital Management LLC now owns 1,558,987 shares of the company’s stock valued at $73,958,000 after buying an additional 326,509 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Worthington Industries by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 1,091,316 shares of the company’s stock valued at $52,416,000 after buying an additional 12,959 shares during the last quarter. Institutional investors and hedge funds own 54.27% of the company’s stock.

About Worthington Industries

Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.

5 Day Chart for NYSE:WOR

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