Schnitzer Steel Industries (NASDAQ:SCHN) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.59 -0.63 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.56.
A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Schnitzer Steel Industries from a strong-buy rating to a hold rating in a report on Tuesday, September 19th. KeyCorp restated a hold rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. ValuEngine upgraded shares of Schnitzer Steel Industries from a hold rating to a buy rating in a report on Thursday, October 5th. BidaskClub upgraded shares of Schnitzer Steel Industries from a buy rating to a strong-buy rating in a report on Friday, December 22nd. Finally, Morgan Stanley lifted their price objective on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an equal weight rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $31.33.
Schnitzer Steel Industries (NASDAQ SCHN) opened at $37.20 on Thursday. The stock has a market cap of $1,010.00, a PE ratio of 23.54 and a beta of 1.36. Schnitzer Steel Industries has a twelve month low of $17.50 and a twelve month high of $38.15. 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 issued its quarterly earnings data on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The firm had revenue of $483.00 million during the quarter, compared to analysts’ expectations of $502.02 million. During the same period last year, the company earned ($0.05) earnings per share. The business’s revenue was up 44.6% on a year-over-year basis. sell-side analysts anticipate that Schnitzer Steel Industries will post 2.18 EPS for the current fiscal year.
In other Schnitzer Steel Industries news, CFO Richard Peach sold 8,000 shares of Schnitzer Steel Industries stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $28.33, for a total value of $226,640.00. Following the sale, the chief financial officer now owns 119,283 shares of the company’s stock, valued at $3,379,287.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Peter B. Saba sold 2,393 shares of Schnitzer Steel Industries stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $26.52, for a total transaction of $63,462.36. Following the completion of the sale, the senior vice president now directly owns 30,911 shares in the company, valued at approximately $819,759.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,770 shares of company stock worth $654,919. 3.50% of the stock is owned by corporate insiders.
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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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