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

Worthington Steel (NYSE:WS) posted its earnings results 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 business had revenue of $911.00 million during the quarter, compared to the consensus estimate of $876.30 million. Worthington Steel’s quarterly revenue was up 3.1% compared to the same quarter last year.

Worthington Steel Stock Up 0.8 %

Shares of Worthington Steel stock opened at $30.92 on Thursday. Worthington Steel has a 1-year low of $21.00 and a 1-year high of $40.15. The firm’s 50-day moving average price is $32.11 and its two-hundred day moving average price is $31.26.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WS. Seaport Res Ptn reissued a “neutral” rating on shares of Worthington Steel in a research note on Monday, March 11th. KeyCorp upped their target price on shares of Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd.

Insiders Place Their Bets

In other Worthington Steel news, Director Carl A. Nelson, Jr. sold 12,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $30.89, for a total transaction of $370,680.00. Following the sale, the director now directly owns 85,583 shares of the company’s stock, valued at $2,643,658.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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.