Worthington Industries (WOR) Gains But Lags Market: What You Should Know
Worthington Industries (WOR) closed the most recent trading day at $72.49, moving +0.43% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.1%. At the same time, the Dow added 0.54%, and the tech-heavy Nasdaq gained 1.59%.
Coming into today, shares of the metal manufacturer had lost 2.59% in the past month. In that same time, the Industrial Products sector lost 4.51%, while the S&P 500 lost 3.13%.
Wall Street will be looking for positivity from Worthington Industries as it approaches its next earnings report date. The company is expected to report EPS of $1.99, up 23.6% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 $4.58 billion. These results would represent year-over-year changes of -3.58% and -6.93%, respectively.
It is also important to note the 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Worthington Industries is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Worthington Industries currently has a Forward P/E ratio of 12.77. This valuation marks a discount compared to its industry's average Forward P/E of 13.34.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% of all 250+ industries.
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.
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
