Worthington Enterprises (NYSE:WOR) Issues Quarterly Earnings Results

Worthington Enterprises (NYSE:WOR) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07), Zacks reports. The business had revenue of $371.46 million during the quarter, compared to analyst estimates of $386.49 million. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%.

Worthington Enterprises Stock Down 0.6%

WOR traded down $0.38 during mid-day trading on Tuesday, reaching $61.11. 351,788 shares of the stock were exchanged, compared to its average volume of 191,505. The company has a 50 day moving average price of $56.15 and a two-hundred day moving average price of $54.58. The stock has a market capitalization of $3.01 billion, a PE ratio of 27.16 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 2.36. Worthington Enterprises has a 1 year low of $45.01 and a 1 year high of $70.91.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WOR. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Monday, April 20th. Wall Street Zen raised Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $69.00 target price on shares of Worthington Enterprises in a report on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.00.

Institutional Investors Weigh In On Worthington Enterprises

Several large investors have recently made changes to their positions in WOR. Entropy Technologies LP bought a new position in Worthington Enterprises during the fourth quarter worth about $216,000. Coldstream Capital Management Inc. bought a new stake in shares of Worthington Enterprises in the third quarter valued at approximately $256,000. OmniStar Financial Group Inc. bought a new stake in shares of Worthington Enterprises in the third quarter valued at approximately $253,000. SHUTTLEWORTH & Co purchased a new stake in shares of Worthington Enterprises during the 3rd quarter valued at approximately $226,000. Finally, State of Wyoming purchased a new stake in shares of Worthington Enterprises during the 2nd quarter valued at approximately $199,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

About Worthington Enterprises

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.