Worthington Steel (NYSE:WS) Issues Earnings Results, Misses Expectations By $0.32 EPS

Worthington Steel (NYSE:WS) released its earnings results on Wednesday. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32), Zacks reports. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The firm had revenue of $687.40 million for the quarter, compared to analyst estimates of $732.00 million. During the same period last year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year.

Worthington Steel Trading Up 3.4 %

NYSE WS opened at $26.99 on Thursday. The stock’s 50 day moving average is $28.34 and its two-hundred day moving average is $34.12. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 9.47 and a beta of 2.62. Worthington Steel has a 1-year low of $24.22 and a 1-year high of $47.19.

Wall Street Analysts Forecast Growth

Separately, KeyCorp decreased their target price 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.

Worthington Steel Company Profile

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.