Worthington Industries (WOR) Increases Yet Falls Behind Market: What Investors Need to Know
Worthington Industries (WOR) closed the latest trading day at $66.03, indicating a +0.32% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.74% for the day. Elsewhere, the Dow saw an upswing of 0.58%, while the tech-heavy Nasdaq appreciated by 1.13%.
The investment community will be closely monitoring the performance of Worthington Industries in its forthcoming earnings report. The company is predicted to post an EPS of $0.94, indicating a 113.64% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $990.15 million, showing a 15.77% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.55 per share and a revenue of $4.47 billion, representing changes of -5.29% and -9.07%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Worthington Industries is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Worthington Industries is currently being traded at a Forward P/E ratio of 11.86. This valuation marks a discount compared to its industry's average Forward P/E of 13.55.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 239, placing it within the bottom 6% of over 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.
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
