BidaskClub upgraded shares of Schnitzer Steel Industries (NASDAQ:SCHN) from a sell rating to a hold rating in a research report released on Thursday morning.
A number of other analysts have also 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. Goldman Sachs started coverage on shares of Schnitzer Steel Industries in a research report on Tuesday, March 20th. They set a buy rating and a $42.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Schnitzer Steel Industries from a buy rating to a hold rating in a research report on Wednesday, March 21st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $33.25.
Shares of NASDAQ:SCHN traded down $0.40 during midday trading on Thursday, reaching $31.50. The company’s stock had a trading volume of 1,704 shares, compared to its average volume of 336,053. The firm has a market capitalization of $861.97 million, a P/E ratio of 20.62 and a beta of 1.45. Schnitzer Steel Industries has a twelve month low of $31.15 and a twelve month high of $31.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.25.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Thursday, April 5th. The basic materials company reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.51. The firm had revenue of $559.00 million for 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 14.28%. The business’s quarterly revenue was up 46.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. equities analysts anticipate that Schnitzer Steel Industries will post 3.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 29th. Investors of record on Monday, May 14th will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, May 11th. This represents a $0.75 annualized dividend and a yield of 2.38%. Schnitzer Steel Industries’s dividend payout ratio is presently 49.02%.
Hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. grew its position in Schnitzer Steel Industries by 96.5% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,481 shares during the period. SG Americas Securities LLC acquired a new stake in Schnitzer Steel Industries during the first quarter valued at $113,000. PNC Financial Services Group Inc. grew its position in Schnitzer Steel Industries by 134.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,784 shares of the basic materials company’s stock valued at $156,000 after buying an additional 2,747 shares during the period. Sei Investments Co. grew its position in Schnitzer Steel Industries by 120.4% during the first quarter. Sei Investments Co. now owns 6,481 shares of the basic materials company’s stock valued at $210,000 after buying an additional 3,540 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Schnitzer Steel Industries during the first quarter valued at $239,000. Institutional investors own 92.49% of the company’s stock.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.
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