Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) – Analysts at KeyCorp upped their FY2018 earnings per share estimates for shares of Schnitzer Steel Industries in a research note issued to investors on Monday, Zacks Investment Research reports. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $2.65 per share for the year, up from their previous estimate of $2.12. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Schnitzer Steel Industries’ FY2019 earnings at $2.75 EPS.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings results on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $483.00 million during the quarter, compared to analyst estimates of $502.02 million. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. The business’s revenue was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share.
SCHN has been the subject of a number of other research reports. Morgan Stanley lifted their price target on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 31st. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Tuesday, January 2nd. ValuEngine upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Saturday, December 9th. Finally, BidaskClub upgraded shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.33.
Shares of Schnitzer Steel Industries (NASDAQ SCHN) traded down $1.20 during trading hours on Thursday, hitting $36.40. 434,300 shares of the company were exchanged, compared to its average volume of 532,133. The company has a current ratio of 2.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1,020.00, a price-to-earnings ratio of 16.04 and a beta of 1.36. Schnitzer Steel Industries has a fifty-two week low of $17.50 and a fifty-two week high of $38.85.
Several institutional investors and hedge funds have recently made changes to their positions in SCHN. Sei Investments Co. boosted its holdings in shares of Schnitzer Steel Industries by 325.7% during the third quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock valued at $175,000 after acquiring an additional 4,759 shares during the period. Commonwealth Equity Services Inc acquired a new stake in Schnitzer Steel Industries in the third quarter worth about $204,000. Tiedemann Wealth Management LLC acquired a new stake in Schnitzer Steel Industries in the third quarter worth about $223,000. BlueCrest Capital Management Ltd acquired a new stake in Schnitzer Steel Industries in the second quarter worth about $228,000. Finally, Menta Capital LLC acquired a new stake in Schnitzer Steel Industries in the second quarter worth about $247,000. 86.84% of the stock is owned by institutional investors.
In other news, SVP Peter B. Saba sold 2,393 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $26.52, for a total transaction of $63,462.36. Following the completion of the transaction, the senior vice president now owns 30,911 shares of the company’s stock, valued at $819,759.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard Peach sold 8,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $28.33, for a total transaction of $226,640.00. Following the transaction, the chief financial officer now directly owns 119,283 shares of the company’s stock, valued at approximately $3,379,287.39. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,770 shares of company stock valued at $654,919. 3.80% of the stock is owned by 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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