Worthington Steel (NYSE:WS) Posts Quarterly Earnings Results, Misses Expectations By $0.59 EPS

Worthington Steel (NYSE:WS) released its quarterly earnings results on Tuesday. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.59), Zacks reports. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $3.14 billion. Worthington Steel had a positive return on equity of 7.49% and a negative net margin of 0.56%. The business’s revenue for the quarter was up 212.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share.

Worthington Steel Price Performance

Shares of Worthington Steel stock opened at $36.09 on Friday. The stock has a market capitalization of $1.84 billion, a P/E ratio of -59.16 and a beta of 2.24. The business has a 50 day simple moving average of $35.67 and a two-hundred day simple moving average of $36.38. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.81 and a quick ratio of 0.92. Worthington Steel has a 12 month low of $27.22 and a 12 month high of $49.17.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Monday, December 14th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, December 14th. Worthington Steel’s payout ratio is currently -104.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WS. Zacks Research cut shares of Worthington Steel from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 17th. KeyCorp reissued an “overweight” rating on shares of Worthington Steel in a report on Tuesday. Weiss Ratings cut Worthington Steel from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Worthington Steel presently has an average rating of “Hold” and an average price target of $46.00.

Worthington Steel Company Profile

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers in the automotive, construction, energy, industrial and consumer markets. Its offerings include electrical steel, laser-welded and tailor-welded blanks, and other processed steel products designed to meet specific customer requirements.

The company provides services such as slitting, blanking, cold reduction, welding and other steel processing capabilities. Its products are used in applications including automotive components, electrical motors and transformers, building products, pressure vessels and industrial equipment.

Worthington Steel was separated from Worthington Industries as an independent public company in December 2023.