Worthington Industries (WOR) Dips More Than Broader Markets: What You Should Know
Worthington Industries (WOR) closed at $70.34 in the latest trading session, marking a -0.45% move from the prior day. This change lagged the S&P 500's daily loss of 0.11%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, lost 0.68%.
Heading into today, shares of the metal manufacturer had lost 1.61% over the past month, lagging the Industrial Products sector's gain of 1.43% and the S&P 500's gain of 1.43% in that time.
Worthington Industries will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.99, up 23.6% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, down 3.95% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.65 per share and revenue of $4.58 billion. These totals would mark changes of -3.58% and -6.93%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Worthington Industries. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Worthington Industries is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Worthington Industries is holding a Forward P/E ratio of 12.44. For comparison, its industry has an average Forward P/E of 12.78, 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. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Industries, Inc. (WOR) : Free Stock Analysis Report
