Worthington Steel, Inc. (NYSE:WS - Get Free Report) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $26.88, but opened at $25.56. Worthington Steel shares last traded at $28.33, with a volume of 57,638 shares traded.
The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.32). The firm had revenue of $687.40 million for the quarter, compared to analyst estimates of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. Worthington Steel's revenue for the quarter was down 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS.
Wall Street Analyst Weigh In
Separately, KeyCorp decreased their price target on Worthington Steel from $41.00 to $34.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th.
Get Our Latest Analysis on Worthington Steel
Hedge Funds Weigh In On Worthington Steel
Several large investors have recently bought and sold shares of the business. Anchor Investment Management LLC bought a new position in Worthington Steel during the fourth quarter worth about $32,000. Tower Research Capital LLC TRC increased its stake in Worthington Steel by 82.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock valued at $132,000 after purchasing an additional 1,883 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Worthington Steel in the third quarter worth $213,000. Voleon Capital Management LP bought a new stake in shares of Worthington Steel in the 4th quarter valued at $213,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Worthington Steel during the 4th quarter worth $220,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.
Worthington Steel Stock Up 4.6 %
The stock has a market capitalization of $1.43 billion, a P/E ratio of 9.84 and a beta of 2.62. The company has a fifty day simple moving average of $28.34 and a two-hundred day simple moving average of $34.12.
Worthington Steel Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Worthington Steel, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Worthington Steel wasn't on the list.
While Worthington Steel currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
