Worthington Industries (WOR) Rises As Market Takes a Dip: Key Facts
In the latest market close, Worthington Industries (WOR) reached $59.68, with a +0.15% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.43%. Meanwhile, the Dow experienced a drop of 0.32%, and the technology-dominated Nasdaq saw a decrease of 2.43%.
Heading into today, shares of the metal manufacturer had lost 12.88% over the past month, lagging the Industrial Products sector's loss of 4.29% and the S&P 500's loss of 1.55% in that time.
Investors will be eagerly watching for the performance of Worthington Industries in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.94, marking a 113.64% rise compared to the same quarter of the previous 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 full year, the Zacks Consensus Estimates are projecting earnings of $5.55 per share and revenue of $4.47 billion, which would represent changes of -5.29% and -9.07%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Worthington Industries. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.77% lower. 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 10.74. This signifies a discount in comparison to the average Forward P/E of 11.27 for its industry.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 183, positioning it in the bottom 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Worthington Industries, Inc. (WOR) : Free Stock Analysis Report
