Worthington Industries (WOR) Gains As Market Dips: What You Should Know
Worthington Industries (WOR) closed the most recent trading day at $71.99, moving +0.01% from the previous trading session. This change outpaced the S&P 500's 0.77% loss on the day. Meanwhile, the Dow lost 0.84%, and the Nasdaq, a tech-heavy index, lost 1.17%.
Prior to today's trading, shares of the metal manufacturer had gained 1.02% over the past month. This has outpaced the Industrial Products sector's loss of 1.66% and the S&P 500's loss of 2.13% in that time.
Investors will be hoping for strength from Worthington Industries as it approaches its next earnings release. In that report, analysts expect Worthington Industries to post earnings of $1.99 per share. This would mark year-over-year growth of 23.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.35 billion, down 3.95% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.65 per share and revenue of $4.58 billion, which would represent changes of -3.58% and -6.93%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Worthington Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Worthington Industries currently has a Forward P/E ratio of 12.74. This represents a discount compared to its industry's average Forward P/E of 13.12.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% 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
