Schnitzer Steel Industries (NASDAQ:SCHN) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.87-0.93 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.73.
A number of research firms have weighed in on SCHN. Zacks Investment Research downgraded Schnitzer Steel Industries from a buy rating to a hold rating in a research report on Wednesday. Goldman Sachs assumed coverage on Schnitzer Steel Industries in a research note on Tuesday. They set a buy rating and a $42.00 price objective on the stock. BidaskClub cut Schnitzer Steel Industries from a strong-buy rating to a buy rating in a research note on Friday, March 16th. Finally, ValuEngine upgraded Schnitzer Steel Industries from a buy rating to a strong-buy rating in a research note on Thursday, March 1st. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $34.00.
Shares of SCHN stock traded up $1.00 during trading on Wednesday, hitting $35.25. The stock had a trading volume of 194,322 shares, compared to its average volume of 351,131. Schnitzer Steel Industries has a one year low of $17.50 and a one year high of $38.85. The company has a market cap of $924.90, a PE ratio of 15.48 and a beta of 1.34. 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 (NASDAQ:SCHN) last announced its quarterly earnings data 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. Schnitzer Steel Industries had a return on equity of 11.90% and a net margin of 3.50%. The company had revenue of $483.00 million for the quarter, compared to analysts’ expectations of $502.02 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s revenue was up 44.6% compared to the same quarter last year. analysts forecast that Schnitzer Steel Industries will post 2.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, February 9th. Schnitzer Steel Industries’s dividend payout ratio is currently 32.89%.
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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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