Worthington Enterprises (NYSE:WOR) Issues 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, beating 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 firm had revenue of $274.05 million during the quarter, compared to the consensus estimate of $273.77 million. During the same quarter last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis.

Worthington Enterprises Stock Down 1.4 %

Shares of Worthington Enterprises stock opened at $38.13 on Wednesday. The stock’s 50-day moving average is $40.28 and its 200 day moving average is $44.38. Worthington Enterprises has a one year low of $37.88 and a one year high of $69.96. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 50.17 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34.

Worthington Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.78%. Worthington Enterprises’s payout ratio is currently 89.47%.

Insiders Place Their Bets

In related news, CFO Joseph B. Hayek purchased 2,500 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was purchased at an average cost of $40.21 per share, with a total value of $100,525.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 37.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WOR has been the subject of a number of recent research reports. 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 report on Thursday, September 26th. Canaccord Genuity Group restated a “hold” rating and set a $46.00 price objective on shares of Worthington Enterprises in a research report on Friday, October 4th. Finally, StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th.

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.