Worthington Steel, Inc. (NYSE:WS) Declares Quarterly Dividend of $0.16

Worthington Steel, Inc. (NYSE:WS) declared a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, June 13th will be given a dividend of 0.16 per share on Friday, June 27th. This represents a $0.64 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, June 13th.

Worthington Steel Price Performance

Shares of Worthington Steel stock opened at $27.93 on Friday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 9.80 and a beta of 2.62. The stock’s 50-day moving average is $28.29 and its 200-day moving average is $34.07. Worthington Steel has a one year low of $24.22 and a one year high of $47.19.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32). 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 company earned $0.99 EPS. The company’s revenue was down 14.7% compared to the same quarter last year. On average, equities analysts expect that Worthington Steel will post 2.26 EPS for the current year.

Analysts Set New Price Targets

Separately, KeyCorp lowered their price target on shares of Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a research note 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.