Worthington Industries (WOR) Increases Yet Falls Behind Market: What Investors Need to Know
Worthington Industries (WOR) closed the most recent trading day at $61.62, moving +0.55% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.65%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.48%.
The the stock of metal manufacturer has fallen by 0.84% in the past month, leading the Industrial Products sector's loss of 4.87% and the S&P 500's loss of 2.79%.
Investors will be eagerly watching for the performance of Worthington Industries in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.94, showcasing a 113.64% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $990.15 million, indicating a 15.77% decline compared to the corresponding quarter of the prior year.
WOR's full-year Zacks Consensus Estimates are calling for earnings of $5.55 per share and revenue of $4.47 billion. These results would represent year-over-year changes of -5.29% and -9.07%, respectively.
Investors might also notice recent changes to analyst estimates for Worthington Industries. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.89% fall in the Zacks Consensus EPS estimate. As of now, Worthington Industries holds a Zacks Rank of #3 (Hold).
In terms of valuation, Worthington Industries is presently being traded at a Forward P/E ratio of 11.04. This denotes a discount relative to the industry's average Forward P/E of 12.76.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 203, finds itself in the bottom 20% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Worthington Industries, Inc. (WOR) : Free Stock Analysis Report
