Why the Market Dipped But Worthington Enterprises (WOR) Gained Today
In the latest trading session, Worthington Enterprises (WOR) closed at $62.51, marking a +0.87% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
Coming into today, shares of the metal manufacturer had gained 14.95% in the past month. In that same time, the Conglomerates sector gained 5.13%, while the S&P 500 gained 3.56%.
The upcoming earnings release of Worthington Enterprises will be of great interest to investors. The company's upcoming EPS is projected at $1.24, signifying a 19.23% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.46 billion, showing a 32.15% escalation compared to the year-ago quarter.
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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Worthington Enterprises. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Worthington Enterprises is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Worthington Enterprises is currently trading at a Forward P/E ratio of 11.07. This indicates a discount in contrast to its industry's Forward P/E of 16.95.
The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 31, this industry ranks in the top 13% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Worthington Enterprises, Inc. (WOR) : Free Stock Analysis Report
