Schnitzer Steel Industries (NASDAQ:SCHN) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.59 -0.63 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.56.
Several equities analysts have weighed in on the company. Zacks Investment Research lowered Schnitzer Steel Industries from a strong-buy rating to a hold rating in a report on Tuesday, September 19th. ValuEngine raised Schnitzer Steel Industries from a hold rating to a buy rating in a report on Saturday, December 9th. KeyCorp reissued a hold rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. Macquarie assumed coverage on Schnitzer Steel Industries in a report on Wednesday, September 6th. They set a neutral rating and a $26.00 price objective for the company. Finally, Morgan Stanley increased their price objective on Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an equal weight rating in a report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $29.33.
Schnitzer Steel Industries (NASDAQ:SCHN) opened at $30.42 on Wednesday. Schnitzer Steel Industries has a twelve month low of $17.50 and a twelve month high of $31.35. The firm has a market capitalization of $821.33, a price-to-earnings ratio of 19.84 and a beta of 1.36. The company has a current ratio of 1.92, a quick ratio of 0.97 and a debt-to-equity ratio of 0.27.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The business had revenue of $494.00 million during the quarter, compared to analyst estimates of $495.73 million. During the same period in the prior year, the company earned $0.60 earnings per share. Schnitzer Steel Industries’s revenue was up 26.3% compared to the same quarter last year. equities research analysts predict that Schnitzer Steel Industries will post 2.18 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, November 10th. Schnitzer Steel Industries’s payout ratio is currently 47.17%.
In other news, SVP Steven Heiskell sold 2,976 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $28.05, for a total value of $83,476.80. Following the completion of the transaction, the senior vice president now directly owns 50,501 shares of the company’s stock, valued at $1,416,553.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter B. Saba sold 2,393 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $26.52, for a total value of $63,462.36. Following the completion of the transaction, the senior vice president now directly owns 30,911 shares of the company’s stock, valued at $819,759.72. The disclosure for this sale can be found here. Insiders sold 22,770 shares of company stock valued at $654,919 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.
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Schnitzer Steel Industries Company Profile
Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.
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