Zacks Investment Research cut shares of Schnitzer Steel Industries (NASDAQ:SCHN) from a buy rating to a hold rating in a report released on Wednesday.
According to Zacks, “Schnitzer Steel Industries, Inc. collects, processes and recycles metals by operating one of the largest metals recycling businesses in the United States. They also manufacture finished steel products at their technologically advanced steel mini-mill. “
A number of other analysts also recently commented on SCHN. BidaskClub downgraded shares of Schnitzer Steel Industries from a strong-buy rating to a buy rating in a research report on Friday, March 16th. Goldman Sachs assumed coverage on shares of Schnitzer Steel Industries in a research report on Tuesday. They set a buy rating and a $42.00 price target on the stock. Finally, ValuEngine upgraded shares of Schnitzer Steel Industries from a buy rating to a strong-buy rating in a research report on Thursday, March 1st. Four equities research 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. Schnitzer Steel Industries presently has an average rating of Buy and an average target price of $34.00.
Shares of SCHN stock opened at $35.25 on Wednesday. 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 $931.70, a PE ratio of 15.64 and a beta of 1.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 2.31.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings results on Tuesday, January 9th. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. The company had revenue of $483.00 million for the quarter, compared to the consensus estimate of $502.02 million. During the same period in the previous year, the firm earned ($0.05) EPS. Schnitzer Steel Industries’s revenue was up 44.6% on a year-over-year basis. sell-side analysts anticipate that Schnitzer Steel Industries will post 2.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.13%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is 32.89%.
Several hedge funds have recently added to or reduced their stakes in SCHN. The Manufacturers Life Insurance Company grew its stake in shares of Schnitzer Steel Industries by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,261 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 942 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Schnitzer Steel Industries in the 3rd quarter worth approximately $605,000. American Century Companies Inc. grew its stake in shares of Schnitzer Steel Industries by 31.6% in the 3rd quarter. American Century Companies Inc. now owns 205,061 shares of the basic materials company’s stock worth $5,772,000 after purchasing an additional 49,235 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Schnitzer Steel Industries by 18.9% in the 3rd quarter. Prudential Financial Inc. now owns 232,427 shares of the basic materials company’s stock worth $6,543,000 after purchasing an additional 37,010 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Schnitzer Steel Industries by 325.7% in the 3rd quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 4,759 shares during the last quarter. Institutional investors own 91.01% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Schnitzer Steel Industries (SCHN) Downgraded by Zacks Investment Research” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/03/22/schnitzer-steel-industries-schn-downgraded-by-zacks-investment-research.html.
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.
Get a free copy of the Zacks research report on Schnitzer Steel Industries (SCHN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Schnitzer Steel Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries and related companies with MarketBeat.com's FREE daily email newsletter.