Worthington Steel (NYSE:WS) Announces Earnings Results, Beats Expectations By $0.39 EPS

Worthington Steel (NYSE:WS) announced its earnings results on Wednesday. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39, Briefing.com reports. The firm had revenue of $911.00 million during the quarter, compared to analyst estimates of $876.30 million. Worthington Steel’s revenue was up 3.1% on a year-over-year basis.

Worthington Steel Trading Up 2.0 %

Worthington Steel stock opened at $33.36 on Friday. Worthington Steel has a 52 week low of $21.00 and a 52 week high of $40.15. The stock has a 50 day moving average of $32.12 and a 200-day moving average of $31.33.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.92%.

Insider Transactions at Worthington Steel

In related news, Director Carl A. Nelson, Jr. sold 12,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $30.89, for a total transaction of $370,680.00. Following the completion of the transaction, the director now directly owns 85,583 shares in the company, valued at approximately $2,643,658.87. The sale was disclosed in a document filed with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. KeyCorp lifted their price target on Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Seaport Res Ptn reissued a “neutral” rating on shares of Worthington Steel in a report on Monday, March 11th.

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.