Worthington Enterprises, Inc. Declares Quarterly Dividend of $0.17 (NYSE:WOR)

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, March 25th, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.17 per share by the industrial products company on Friday, June 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.63%.

Worthington Enterprises has decreased its dividend by an average of 15.4% annually over the last three years. Worthington Enterprises has a payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Worthington Enterprises to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 22.1%.

Worthington Enterprises Stock Performance

Shares of WOR opened at $41.73 on Wednesday. The company has a quick ratio of 2.50, a current ratio of 3.56 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.09 billion, a P/E ratio of 50.28 and a beta of 1.21. The business’s 50 day moving average price is $41.82 and its 200-day moving average price is $41.31. Worthington Enterprises has a 52 week low of $37.88 and a 52 week high of $62.86.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.18. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The firm had revenue of $304.52 million during the quarter, compared to analyst estimates of $289.09 million. During the same quarter in the previous year, the firm earned $0.80 EPS. Worthington Enterprises’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Canaccord Genuity Group lifted their price objective on Worthington Enterprises from $46.00 to $49.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Seaport Res Ptn raised shares of Worthington Enterprises to a “strong-buy” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.00.

Worthington Enterprises Company Profile

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.