Worthington Industries (WOR) Ascends While Market Falls: Some Facts to Note
Worthington Industries (WOR) closed at $67.53 in the latest trading session, marking a +1.79% move from the prior day. This change outpaced the S&P 500's 0.2% loss on the day. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq decreased by 0.07%.
Heading into today, shares of the metal manufacturer had gained 9.04% over the past month, outpacing the Industrial Products sector's gain of 7.01% and the S&P 500's gain of 7.49% in that time.
Investors will be eagerly watching for the performance of Worthington Industries in its upcoming earnings disclosure. In that report, analysts expect Worthington Industries to post earnings of $0.94 per share. This would mark 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.
WOR's full-year Zacks Consensus Estimates are calling for earnings of $5.55 per share and revenue of $4.47 billion. These results would represent year-over-year changes of -5.29% and -9.07%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Worthington Industries. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Worthington Industries is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Worthington Industries is currently exchanging hands at a Forward P/E ratio of 11.95. For comparison, its industry has an average Forward P/E of 13.39, which means Worthington Industries is trading at a discount to the group.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 241, this industry ranks in the bottom 5% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Worthington Industries, Inc. (WOR) : Free Stock Analysis Report
