Why the Market Dipped But Worthington Enterprises (WOR) Gained Today
Worthington Enterprises (WOR) closed the most recent trading day at $62.78, moving +0.48% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 1.02%. On the other hand, the Dow registered a loss of 1.04%, and the technology-centric Nasdaq decreased by 1.65%.
The metal manufacturer's shares have seen an increase of 8.42% over the last month, surpassing the Conglomerates sector's gain of 6.69% and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of Worthington Enterprises in its forthcoming earnings report. On that day, Worthington Enterprises is projected to report earnings of $1.24 per share, which would represent year-over-year growth of 19.23%. Alongside, our most recent consensus estimate is anticipating revenue of $1.46 billion, indicating a 32.15% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.60 per share and a revenue of $4.9 billion, signifying shifts of -4.44% and -0.25%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Worthington Enterprises. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Worthington Enterprises boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Worthington Enterprises currently has a Forward P/E ratio of 11.16. This indicates a discount in contrast to its industry's Forward P/E of 16.9.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 35, positioning it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Worthington Enterprises, Inc. (WOR) : Free Stock Analysis Report
