Worthington Enterprises (NYSE:WOR) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Worthington Enterprises (NYSE:WOR) posted its 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. The business had revenue of $274.05 million for the quarter, compared to analyst estimates of $273.77 million. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS.

Worthington Enterprises Stock Down 1.2 %

Shares of NYSE:WOR traded down $0.48 during trading on Tuesday, hitting $38.20. The company’s stock had a trading volume of 401,879 shares, compared to its average volume of 272,192. 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 stock’s 50-day moving average price is $40.35 and its two-hundred day moving average price is $44.51. The company has a market capitalization of $1.92 billion, a PE ratio of 50.89 and a beta of 1.26. Worthington Enterprises has a fifty-two week low of $37.88 and a fifty-two week high of $69.96.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.78%. Worthington Enterprises’s dividend payout ratio is currently 89.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WOR shares. Canaccord Genuity Group dropped their target price on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Canaccord Genuity Group restated a “hold” rating and issued a $46.00 price objective on shares of Worthington Enterprises in a report on Friday, October 4th. Finally, StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th.

Insider Buying and Selling

In related news, CFO Joseph B. Hayek acquired 2,500 shares of Worthington Enterprises stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average price of $40.21 per share, with a total value of $100,525.00. Following the completion of the acquisition, the chief financial officer now directly owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This trade represents a 1.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.50% of the company’s stock.

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.