Why Worthington Industries (WOR) Dipped More Than Broader Market Today
In the latest market close, Worthington Industries (WOR) reached $63.03, with a -0.63% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.08%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the metal manufacturer had gained 3.05% in the past month. In that same time, the Industrial Products sector lost 2.6%, while the S&P 500 gained 1.42%.
The upcoming earnings release of Worthington Industries will be of great interest to investors. On that day, Worthington Industries is projected to report earnings of $0.94 per share, which would represent year-over-year growth of 113.64%. In the meantime, our current consensus estimate forecasts the revenue to be $990.15 million, indicating a 15.77% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.55 per share and revenue of $4.47 billion, which would represent changes of -5.29% and -9.07%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Worthington Industries. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Worthington Industries presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Worthington Industries is currently exchanging hands at a Forward P/E ratio of 11.43. This expresses a discount compared to the average Forward P/E of 13.11 of its industry.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 242, this industry ranks in the bottom 4% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Worthington Industries, Inc. (WOR) : Free Stock Analysis Report
