Worthington Industries (WOR) Gains As Market Dips: What You Should Know
Worthington Industries (WOR) closed the latest trading day at $57.33, indicating a +1.65% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.01%. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.36%.
Heading into today, shares of the metal manufacturer had lost 12.67% over the past month, lagging the Conglomerates sector's gain of 8.28% and the S&P 500's gain of 5.21% in that time.
The investment community will be paying close attention to the earnings performance of Worthington Industries in its upcoming release. The company is slated to reveal its earnings on December 19, 2023. It is anticipated that the company will report an EPS of $0.81, marking an 84.09% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.04 billion, down 11.96% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.60 per share and a revenue of $4.9 billion, representing changes of -4.44% and -0.25%, respectively, from the prior year.
Any recent changes to analyst estimates for Worthington Industries should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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, there's been a 0.9% rise in the Zacks Consensus EPS estimate. Currently, Worthington Industries is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Worthington Industries is currently exchanging hands at a Forward P/E ratio of 10.07. This indicates a discount in contrast to its industry's Forward P/E of 17.51.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 77, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Worthington Enterprises, Inc. (WOR) : Free Stock Analysis Report
