Worthington Steel (NYSE:WS) Announces Earnings Results, Misses Estimates By $0.32 EPS

Worthington Steel (NYSE:WS) released its quarterly earnings data on Wednesday. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.32), Zacks reports. The business had revenue of $687.40 million during the quarter, compared to analysts’ expectations of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The company’s revenue was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

Worthington Steel Trading Up 3.9 %

Shares of NYSE WS opened at $27.93 on Friday. Worthington Steel has a 52 week low of $24.22 and a 52 week high of $47.19. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 9.80 and a beta of 2.62. The company’s 50-day moving average price is $28.29 and its 200 day moving average price is $34.07.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.29%. Worthington Steel’s payout ratio is 22.46%.

Wall Street Analyst Weigh In

Separately, KeyCorp lowered their target price on shares of Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th.

Worthington Steel Company Profile

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.