Worthington Enterprises (NYSE:WOR) Stock Rating Lowered by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Worthington Enterprises (NYSE:WOR – Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

A number of other research analysts have also weighed in on WOR. The Goldman Sachs Group raised their price objective on Worthington Enterprises from $44.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, June 26th. Canaccord Genuity Group raised their price objective on Worthington Enterprises from $69.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Get Our Latest Research Report on Worthington Enterprises

Worthington Enterprises Stock Performance

WOR opened at $65.14 on Friday. The company has a quick ratio of 2.62, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 34.10 and a beta of 1.21. Worthington Enterprises has a 52-week low of $37.88 and a 52-week high of $70.91. The firm’s fifty day simple moving average is $62.55 and its two-hundred day simple moving average is $53.57.

Worthington Enterprises (NYSE:WOR – Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.22. The business had revenue of $317.88 million for the quarter, compared to the consensus estimate of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The company’s revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. Equities analysts anticipate that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Worthington Enterprises’s previous quarterly dividend of $0.17. Worthington Enterprises’s dividend payout ratio (DPR) is presently 35.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in shares of Worthington Enterprises by 9.2% during the 4th quarter. LPL Financial LLC now owns 7,396 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 624 shares during the period. Wells Fargo & Company MN boosted its position in shares of Worthington Enterprises by 19.2% during the 4th quarter. Wells Fargo & Company MN now owns 27,762 shares of the industrial products company’s stock valued at $1,114,000 after acquiring an additional 4,474 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Worthington Enterprises by 0.9% during the 4th quarter. Legal & General Group Plc now owns 92,960 shares of the industrial products company’s stock valued at $3,729,000 after acquiring an additional 819 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Worthington Enterprises during the 4th quarter valued at about $394,000. Finally, XTX Topco Ltd boosted its position in shares of Worthington Enterprises by 75.4% during the 4th quarter. XTX Topco Ltd now owns 10,866 shares of the industrial products company’s stock valued at $436,000 after acquiring an additional 4,672 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

About Worthington Enterprises

(Get Free Report)

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.

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