Worthington Industries (WOR) Stock Declines While Market Improves: Some Information for Investors
Worthington Industries (WOR) closed the most recent trading day at $63.05, moving -0.76% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.18%. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq increased by 0.3%.
Shares of the metal manufacturer have appreciated by 4.59% over the course of the past month, outperforming the Industrial Products sector's loss of 0.03% and the S&P 500's gain of 3.08%.
The investment community will be closely monitoring the performance of Worthington Industries in its forthcoming earnings report. 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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $990.15 million, down 15.77% from the year-ago period.
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.
Investors should also note any recent changes to analyst estimates for Worthington Industries. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.89% lower within the past month. Worthington Industries is currently a Zacks Rank #3 (Hold).
In terms of valuation, Worthington Industries is presently being traded at a Forward P/E ratio of 11.45. This expresses a discount compared to the average Forward P/E of 12.99 of its industry.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 216, this industry ranks in the bottom 15% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
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
