Worthington Steel, Inc. Expected to Post FY2024 Earnings of $3.02 Per Share (NYSE:WS)

Worthington Steel, Inc. (NYSE:WS) – Equities researchers at Seaport Res Ptn issued their FY2024 earnings per share estimates for shares of Worthington Steel in a report released on Sunday, June 23rd. Seaport Res Ptn analyst M. Englert forecasts that the company will earn $3.02 per share for the year. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Worthington Steel’s current full-year earnings is $3.02 per share. Seaport Res Ptn also issued estimates for Worthington Steel’s Q4 2024 earnings at $0.67 EPS, Q1 2025 earnings at $0.62 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.72 EPS, Q4 2025 earnings at $0.84 EPS, FY2025 earnings at $2.79 EPS, Q1 2026 earnings at $0.83 EPS, Q2 2026 earnings at $0.80 EPS, Q3 2026 earnings at $0.80 EPS, Q4 2026 earnings at $0.94 EPS, FY2026 earnings at $3.38 EPS, FY2027 earnings at $3.48 EPS and FY2028 earnings at $3.51 EPS.

Separately, KeyCorp boosted their target price on shares of Worthington Steel from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd.

Worthington Steel Stock Performance

NYSE WS opened at $32.68 on Wednesday. The company has a fifty day moving average of $32.11 and a 200 day moving average of $31.27. Worthington Steel has a 1 year low of $21.00 and a 1 year high of $40.15.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.39. The business had revenue of $911.00 million for the quarter, compared to analysts’ expectations of $876.30 million. Worthington Steel’s revenue for the quarter was up 3.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of Worthington Steel in the first quarter valued at about $37,000. Verity Asset Management Inc. lifted its stake in shares of Worthington Steel by 7.2% in the first quarter. Verity Asset Management Inc. now owns 21,854 shares of the company’s stock valued at $783,000 after purchasing an additional 1,471 shares during the period. Virtu Financial LLC acquired a new stake in shares of Worthington Steel in the first quarter valued at about $694,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Worthington Steel in the first quarter valued at about $1,240,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Worthington Steel in the first quarter valued at about $379,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Worthington Steel news, Director Carl A. Nelson, Jr. sold 12,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $30.89, for a total value of $370,680.00. Following the sale, the director now directly owns 85,583 shares of the company’s stock, valued at approximately $2,643,658.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

About Worthington Steel

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.