Worthington Steel, Inc. to Issue Quarterly Dividend of $0.16 (NYSE:WS)

Worthington Steel, Inc. (NYSE:WS) declared a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, June 13th will be given a dividend of 0.16 per share on Friday, June 27th. This represents a $0.64 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Friday, June 13th.

Worthington Steel Trading Down 6.0 %

WS opened at $26.21 on Friday. The firm has a 50 day moving average of $28.23 and a two-hundred day moving average of $34.01. Worthington Steel has a 12-month low of $24.22 and a 12-month high of $47.19. The firm has a market capitalization of $1.33 billion, a PE ratio of 9.20 and a beta of 2.62.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32). The company had revenue of $687.40 million for the quarter, compared to analysts’ expectations of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business’s quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, analysts predict that Worthington Steel will post 2.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, KeyCorp reduced their price target on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, March 7th.

About Worthington Steel

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.