Worthington Industries (WOR) Dips More Than Broader Markets: What You Should Know
Worthington Industries (WOR) closed the most recent trading day at $68.74, moving -0.45% from the previous trading session. This change lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Heading into today, shares of the metal manufacturer had lost 3.9% over the past month, lagging the Industrial Products sector's gain of 1.72% and the S&P 500's gain of 2.08% in that time.
Wall Street will be looking for positivity from Worthington Industries as it approaches its next earnings report date. This is expected to be September 27, 2023. The company is expected to report EPS of $1.99, up 23.6% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.35 billion, down 3.95% from the year-ago period.
WOR's full-year Zacks Consensus Estimates are calling for earnings of $5.65 per share and revenue of $4.9 billion. These results would represent year-over-year changes of -3.58% and -5.89%, respectively.
Investors might also notice recent changes to analyst estimates for Worthington Industries. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Worthington Industries is currently a Zacks Rank #3 (Hold).
Investors should also note Worthington Industries's current valuation metrics, including its Forward P/E ratio of 12.22. For comparison, its industry has an average Forward P/E of 12.92, 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 industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% 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.
To follow WOR in the coming trading sessions, be sure to utilize Zacks.com.
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Worthington Industries, Inc. (WOR) : Free Stock Analysis Report
