Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Three equities research 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. The average 1-year price target among brokers that have covered the stock in the last year is $31.33.
Several analysts have recently weighed in on the stock. ValuEngine upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub upgraded shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research note on Tuesday, January 2nd. 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 research note on Tuesday, October 31st.
Schnitzer Steel Industries (NASDAQ SCHN) traded up $0.30 during trading on Wednesday, reaching $35.05. 191,793 shares of the company’s stock traded hands, compared to its average volume of 414,069. The company has a current ratio of 2.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Schnitzer Steel Industries has a 52-week low of $17.50 and a 52-week high of $38.85. The company has a market cap of $946.47, a price-to-earnings ratio of 15.44 and a beta of 1.40.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings results on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm 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 company’s revenue was up 44.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. equities research analysts expect that Schnitzer Steel Industries will post 2.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.75 annualized dividend and a dividend yield of 2.14%. Schnitzer Steel Industries’s dividend payout ratio is currently 33.04%.
Large investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Schnitzer Steel Industries by 96.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 1,481 shares in the last quarter. Sei Investments Co. increased its stake in Schnitzer Steel Industries by 325.7% during the 3rd quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 4,759 shares in the last quarter. Commonwealth Equity Services Inc bought a new stake in Schnitzer Steel Industries during the 3rd quarter valued at $204,000. OppenheimerFunds Inc. bought a new stake in Schnitzer Steel Industries during the 4th quarter valued at $247,000. Finally, UBS Asset Management Americas Inc. bought a new stake in Schnitzer Steel Industries during the 4th quarter valued at $258,000. Institutional investors own 85.78% 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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