Worthington Enterprises (NYSE:WOR) Issues Earnings Results, Beats Estimates By $0.08 EPS

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

Worthington Enterprises Trading Down 1.2 %

Shares of WOR stock traded down $0.48 on Tuesday, reaching $38.20. 375,790 shares of the stock were exchanged, compared to its average volume of 272,687. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.92 billion, a P/E ratio of 50.89 and a beta of 1.26. The firm has a 50 day moving average of $40.35 and a two-hundred day moving average of $44.51. Worthington Enterprises has a 1-year low of $37.88 and a 1-year high of $69.96.

Worthington Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, December 13th. Worthington Enterprises’s dividend payout ratio (DPR) is 89.47%.

Insider Activity

In other news, CFO Joseph B. Hayek bought 2,500 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the purchase, the chief financial officer now owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 37.50% of the company’s stock.

Analyst Ratings Changes

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

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.