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Worthington Industries, Inc. (NYSE:WOR) operates as a diversified metals processing company focusing on steel processing and manufactured metal products in the United States, Canada, and Europe. It processes flat-rolled steel and stainless steel for the automotive, construction, lawn and garden, hardware, furniture, office equipment, electrical control, tubing, leisure and recreation, appliance, agricultural, HVAC, container, and aerospace markets.

It is scheduled to report its Q4 2012 results on June 28, 2012, before the market opens.

Technical Overview


Key Metrics

  • Market Cap: 1.20B
  • 52-week trading range: 12.84 - 23.75
  • Trailing P/E: 10.55
  • Forward P/E: 9.01
  • Price/Sales: 0.49
  • Price/Book: 1.71
  • PEG Ratio: 1.44
  • Total Debt: 547.77M
  • Annual dividend yield: 2.80%
  • Return on Equity: 16.93%
  • Return on Assets: 3.81%

Recent EPS Actuals vs. Estimates

The company has met or beaten analysts' estimates in the last quarters. In the last quarter it reported $0.37 EPS, beating analyst estimates of $0.35.

The consensus EPS is $0.53 based on 7 analysts' estimates, down from $0.64 a year ago. Revenue estimates are $682.41M, up from $675.70M a year ago. The median target price by analysts for the stock is $21.00.

Average recommendation: Overweight

Source: Marketwatch

Latest Developments

  • On May 4, 2012, Worthington Industries, Inc. announced that it has executed a new $425 million five year revolving credit facility.
  • On April 30, 2012, Reliance Steel & Aluminum Co. announced that, through its wholly-owned subsidiary Precision Strip, Inc., it has completed the acquisition of the assets of the Worthington Steel Vonore plant, a processing facility owned by Worthington Industries, Inc.
  • On April 26, 2012, Worthington Industries, Inc. announced that Mark A. Russell will become the next President and Chief Operating Officer of the Company, effective August 1, 2012, replacing George P. Stoe who is stepping down into a semi-retirement role.

Competitors

Worthington Industries, Inc. operates in Steel & Iron industry. The company could be compared to AK Steel Holding Corporation (NYSE:AKS), Metals USA Holdings Corp. (NYSE:MUSA), Reliance Steel & Aluminum Co. (NYSE:RS), and Schnitzer Steel Industries Inc. (NASDAQ:SCHN). Below is the table comparison of the most important ratios between these companies and the industry.

Below is the chart comparison with the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.

(click to enlarge)WOR Chart

WOR data by YCharts

Competitors' Latest Development

  • On April 30, 2012, Reliance Steel & Aluminum Co. announced that, through its wholly-owned subsidiary Precision Strip, Inc., it has completed the acquisition of the assets of the Worthington Steel Vonore plant, a processing facility owned by Worthington Industries, Inc.
  • On April 19, 2012, Metals USA Holdings Corp. announced that it is anticipating a more profitable for the second quarter of 2012 and expects earnings per share (EPS) to be higher than $0.44.
  • On April 16, 2012, Reliance Steel & Aluminum Co. updated first quarter 2012 guidance and expects earnings to be approximately $1.50 per diluted share. In February 16, 2012 conference call and press release the Company estimated earnings per diluted share in a range of $1.15 to $1.25 for the first quarter of 2012.
  • On April 4, 2012, Reliance Steel & Aluminum Co. announced that it has acquired all the outstanding limited liability company interests of National Specialty Alloys, LLC (NSA), a global specialty alloy processor and distributor of stainless steel and nickel alloy bars and shapes, headquartered in Houston, Texas.
  • On March 26, 2012, Reliance Steel & Aluminum Co. announced that its wholly owned subsidiary Precision Strip, Inc. has signed an agreement to acquire substantially all of the assets of the Worthington Steel Vonore, Tennessee plant, a processing facility owned by Worthington Industries, Inc.
  • On March 20, 2012, AK Steel announced that its subsidiary, AK Steel Corporation (AK Steel), has successfully priced a public offering of $300 million of 8.375% senior notes due 2022.
  • On March 12, 2012, Metals USA Holdings Corp. announced that it has acquired Gregor Technologies, LLC (Gregor). Metals USA expects that the transaction will be immediately accretive to earnings.
  • On February 1, 2012, Reliance Steel & Aluminum Co. announced that through its wholly owned subsidiary Diamond Manufacturing Company, has completed the acquisition of McKey Perforating Co., Inc.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Earnings Preview: Worthington Industries

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