Worthington Industries (WOR) Stock Moves -0.59%: What You Should Know
In the latest trading session, Worthington Industries (WOR) closed at $74.23, marking a -0.59% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Heading into today, shares of the metal manufacturer had gained 5.66% over the past month, outpacing the Industrial Products sector's loss of 0.43% and the S&P 500's gain of 0.58% in that time.
Worthington Industries will be looking to display strength as it nears its next earnings release, which is expected to be September 27, 2023. In that report, analysts expect Worthington Industries to post earnings of $1.99 per share. This would mark year-over-year growth of 23.6%. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, down 3.95% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.65 per share and revenue of $4.58 billion. These totals would mark changes of -3.58% and -6.93%, respectively, from last year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Worthington Industries is currently a Zacks Rank #3 (Hold).
Digging into valuation, Worthington Industries currently has a Forward P/E ratio of 13.22. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 13.22.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow WOR in the coming trading sessions, be sure to utilize Zacks.com.
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Worthington Industries, Inc. (WOR) : Free Stock Analysis Report
