Worthington Enterprises (NYSE:WOR) Announces Quarterly Earnings Results

Worthington Enterprises (NYSE:WOR) released its quarterly earnings results on Tuesday. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was down 8.1% on a year-over-year basis.

Worthington Enterprises Stock Performance

Shares of NYSE WOR opened at $42.14 on Thursday. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $69.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. The company’s fifty day moving average price is $40.33 and its 200 day moving average price is $44.36. The company has a market capitalization of $2.12 billion, a PE ratio of 55.45 and a beta of 1.26.

Worthington Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.61%. Worthington Enterprises’s dividend payout ratio is currently 81.93%.

Analysts Set New Price Targets

WOR has been the topic of several research analyst reports. Canaccord Genuity Group dropped their target price on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $46.00 price objective on shares of Worthington Enterprises in a research note on Friday, October 4th.

Insider Activity at Worthington Enterprises

In other Worthington Enterprises news, CFO Joseph B. Hayek acquired 2,500 shares of the company’s stock in a transaction on Friday, October 11th. The shares were bought at an average cost of $40.21 per share, with a total value of $100,525.00. Following the completion of the acquisition, the chief financial officer now owns 168,875 shares in the company, valued at approximately $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.50% of the stock is owned by company insiders.

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.