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

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

Worthington Steel Stock Up 2.0 %

Shares of WS opened at $33.36 on Friday. Worthington Steel has a one year low of $21.00 and a one year high of $40.15. The business has a fifty day moving average of $32.12 and a 200 day moving average of $31.33.

Worthington Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 yield of 1.92%.

Wall Street Analysts Forecast Growth

WS has been the topic of several recent analyst reports. KeyCorp increased their target price 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 reiterated a “neutral” rating on shares of Worthington Steel in a report on Monday, March 11th.

Insider Buying and Selling at Worthington Steel

In other 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 transaction, the director now owns 85,583 shares in the company, valued at approximately $2,643,658.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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.