Worthington Steel's Earnings Preview: Analysts Adjust Expectations

Understanding Worthington Steel's Upcoming Earnings Report
Worthington Steel, Inc. (NYSE: WS) is set to unveil its earnings results for the first quarter soon. Investors and market watchers are keenly awaiting the figures, especially as the company anticipates a substantial increase in profitability compared to last year.
Expected Financial Performance
Analysts widely forecast that Worthington Steel will announce quarterly earnings reaching an impressive 72 cents per share. This marks a notable improvement from the previous year's earnings of 56 cents per share. Additionally, the company is expected to report revenues around $736 million, a decline from the $834 million recorded in the same quarter last year.
Recent Earnings and Stock Performance
In its previous reporting period ending in June, Worthington Steel achieved fourth-quarter earnings of $1.05 per share. This amount exceeded analyst expectations, which were set at 82 cents per share. Such performance suggests a resilient business notwithstanding the anticipated revenue drawdown this quarter.
Analyst Insights and Price Targets
Several analysts have recently shared their revised forecasts on Worthington Steel's stock. For example, Keybanc's analyst, Matthew Gilmor, has reaffirmed an Overweight rating on the stock and lifted his price target from $34 to $36. This revision occurred on the 16th of September, reflecting confidence in the company’s growth trajectory.
Furthermore, Seaport Global’s Martin Englert has started coverage on Worthington Steel with a Neutral rating as of March, indicating a cautious optimism in the company's prospects. The diversity in analyst opinions provides investors with a comprehensive overview of the market's outlook on Worthington Steel.
Current Stock Status
As of the latest trading day, Worthington Steel shares closed at $33.68, reflecting a modest increase of 0.3%. This slight uptick demonstrates market resilience leading up to the earnings announcement, as investors balance optimism with market conditions.
Considering Investment in WS?
With the earnings report just around the corner, now might be a pivotal moment for those considering investment in WS stock. Analysts' considerations can greatly influence an investor’s decision to buy or hold onto the stock. Keep an eye on how acquisitions or strategic moves from Worthington Steel might alter the investment landscape.
Frequently Asked Questions
What are analysts predicting for Worthington Steel's earnings?
Analysts expect Worthington Steel to report earnings of about 72 cents per share for the upcoming quarter.
How did Worthington Steel perform last quarter?
In the previous quarter, Worthington Steel reported earnings of $1.05 per share, exceeding expectations.
What is the current stock price of Worthington Steel?
Worthington Steel shares recently closed at $33.68.
Who are the key analysts covering Worthington Steel?
Matthew Gilmor from Keybanc and Martin Englert from Seaport Global are among the analysts following the stock.
Is Worthington Steel a good investment right now?
With varied analyst ratings and the upcoming earnings report, investors should consider their personal investment strategy and the company's performance trends.
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