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

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) declared a quarterly dividend on Tuesday, March 25th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 1.35%.

Worthington Enterprises has decreased its dividend by an average of 15.4% annually over the last three years. Worthington Enterprises has a dividend payout ratio of 19.8% 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 Stock Down 2.2 %

NYSE WOR traded down $1.16 during mid-day trading on Friday, reaching $50.44. The stock had a trading volume of 644,640 shares, compared to its average volume of 293,140. The stock has a market cap of $2.52 billion, a PE ratio of 60.77 and a beta of 1.21. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $62.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. The company has a fifty day moving average price of $42.39 and a 200 day moving average price of $41.49.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. The firm had revenue of $304.52 million during the quarter, compared to analysts' expectations of $289.09 million. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The company's revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. On average, research analysts expect that Worthington Enterprises will post 2.67 earnings per share for the current year.

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Wall Street Analyst Weigh In

Several equities analysts have issued reports on WOR shares. Seaport Res Ptn upgraded shares of Worthington Enterprises to a "strong-buy" rating in a research note on Wednesday, January 29th. Canaccord Genuity Group increased their price objective on shares of Worthington Enterprises from $49.00 to $54.00 and gave the company a "hold" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Worthington Enterprises currently has a consensus rating of "Hold" and an average price target of $47.67.

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.