Worthington Industries (WOR) Gains But Lags Market: What You Should Know
Worthington Industries (WOR) closed at $76.08 in the latest trading session, marking a +0.12% move from the prior day. This move lagged the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.54%.
Coming into today, shares of the metal manufacturer had gained 2.08% in the past month. In that same time, the Industrial Products sector lost 0.54%, while the S&P 500 lost 1.68%.
Investors will be hoping for strength from Worthington Industries as it approaches its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, down 3.95% from the prior-year quarter.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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).
Digging into valuation, Worthington Industries currently has a Forward P/E ratio of 13.45. For comparison, its industry has an average Forward P/E of 13.45, which means Worthington Industries is trading at a no noticeable deviation 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 105, putting it in the top 42% 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.
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
