Zacks Investment Research cut shares of Schnitzer Steel Industries (NASDAQ:SCHN) from a buy rating to a hold rating in a research report sent to investors 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. “
Several other analysts have also issued reports on SCHN. BidaskClub lowered shares of Schnitzer Steel Industries from a strong-buy rating to a buy rating in a research report on Friday, March 16th. ValuEngine lowered shares of Schnitzer Steel Industries from a strong-buy rating to a buy rating in a research report on Wednesday, March 28th. Finally, Goldman Sachs began coverage on shares of Schnitzer Steel Industries in a research report on Tuesday, March 20th. They set a buy rating and a $42.00 target price for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $33.25.
Shares of NASDAQ SCHN opened at $31.60 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.31 and a quick ratio of 1.04. The company has a market cap of $859.61, a P/E ratio of 20.65 and a beta of 1.41. Schnitzer Steel Industries has a 12-month low of $17.50 and a 12-month high of $38.85.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its earnings results on Thursday, April 5th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.51. The company had revenue of $559.00 million during the quarter, compared to analyst estimates of $507.82 million. Schnitzer Steel Industries had a net margin of 4.68% and a return on equity of 14.63%. The firm’s quarterly revenue was up 46.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 earnings per share. equities research analysts anticipate that Schnitzer Steel Industries will post 3.37 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of SCHN. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Schnitzer Steel Industries by 96.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,481 shares during the period. Sei Investments Co. boosted its position in shares of Schnitzer Steel Industries by 325.7% in the third 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 period. Commonwealth Equity Services Inc bought a new position in shares of Schnitzer Steel Industries in the third quarter worth approximately $204,000. OppenheimerFunds Inc. bought a new position in shares of Schnitzer Steel Industries in the fourth quarter worth approximately $247,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Schnitzer Steel Industries in the fourth quarter worth approximately $258,000. Institutional investors and hedge funds own 91.01% 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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