Worthington Enterprises, Inc. (WOR) to Issue Quarterly Dividend of $0.17 on June 27th

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, March 25th, RTT News reports. Stockholders of record on Friday, June 13th will be paid a dividend of 0.17 per share by the industrial products company on Friday, June 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%.

Worthington Enterprises has decreased its dividend by an average of 15.4% annually over the last three years. Worthington Enterprises has a payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Worthington Enterprises to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 22.1%.

Worthington Enterprises Price Performance

Shares of NYSE WOR opened at $51.70 on Thursday. The company has a quick ratio of 2.50, a current ratio of 3.56 and a debt-to-equity ratio of 0.32. Worthington Enterprises has a fifty-two week low of $37.88 and a fifty-two week high of $62.86. The business has a 50 day moving average price of $42.02 and a two-hundred day moving average price of $41.38. The firm has a market cap of $2.59 billion, a PE ratio of 62.29 and a beta of 1.21.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. The business had revenue of $304.52 million during the quarter, compared to the consensus estimate of $289.09 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. Sell-side analysts expect that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on WOR. Canaccord Genuity Group increased their price target on shares of Worthington Enterprises from $46.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Seaport Res Ptn upgraded Worthington Enterprises to a “strong-buy” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Worthington Enterprises has an average rating of “Hold” and an average price target of $46.00.

Worthington Enterprises Company Profile

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.