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

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 given 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 yield of 1.32%.

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% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of NYSE:WOR opened at $51.70 on Thursday. The firm’s 50 day moving average is $42.02 and its two-hundred day moving average is $41.38. The firm has a market capitalization of $2.59 billion, a P/E ratio of 62.29 and a beta of 1.21. The company has a current ratio of 3.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.32. 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 earnings results on Tuesday, March 25th. The industrial products company reported $0.91 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $289.09 million. During the same period last year, the firm earned $0.80 EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. Analysts anticipate that Worthington Enterprises will post 2.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WOR. Canaccord Genuity Group upped their price target on shares of Worthington Enterprises from $46.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Seaport Res Ptn upgraded Worthington Enterprises to a “strong-buy” rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Worthington Enterprises has a consensus rating of “Hold” and an average price target of $46.00.

About Worthington Enterprises

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.