Q3 2018 Earnings Forecast for Schnitzer Steel Industries Issued By KeyCorp (SCHN)

Schnitzer Steel Industries (NASDAQ:SCHN) – Investment analysts at KeyCorp boosted their Q3 2018 EPS estimates for Schnitzer Steel Industries in a report issued on Monday, June 25th. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $1.28 per share for the quarter, up from their prior forecast of $1.05. KeyCorp also issued estimates for Schnitzer Steel Industries’ Q4 2018 earnings at $1.11 EPS, Q1 2019 earnings at $0.70 EPS and Q2 2019 earnings at $0.69 EPS.

Other analysts have also issued reports about the stock. ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Friday, March 30th. Goldman Sachs Group initiated 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, BidaskClub lowered shares of Schnitzer Steel Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.50.

Schnitzer Steel Industries opened at $33.70 on Thursday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.25 and a current ratio of 2.20. Schnitzer Steel Industries has a 1 year low of $23.70 and a 1 year high of $38.85. The firm has a market cap of $917.54 million, a price-to-earnings ratio of 22.03 and a beta of 1.46.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings results on Tuesday, June 26th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.08. Schnitzer Steel Industries had a net margin of 5.25% and a return on equity of 17.21%. The firm had revenue of $652.00 million for the quarter, compared to analyst estimates of $651.09 million. During the same period in the prior year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was up 36.7% compared to the same quarter last year.

Several institutional investors and hedge funds have recently modified their holdings of SCHN. Ladenburg Thalmann Financial Services Inc. raised 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 valued at $101,000 after purchasing an additional 1,481 shares during the period. SG Americas Securities LLC bought a new position in shares of Schnitzer Steel Industries in the first quarter valued at about $113,000. PNC Financial Services Group Inc. raised its position in shares of Schnitzer Steel Industries by 134.9% in 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 purchasing an additional 2,747 shares during the period. Sei Investments Co. raised its position in shares of Schnitzer Steel Industries by 120.4% in the first quarter. Sei Investments Co. now owns 6,481 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 3,540 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Schnitzer Steel Industries in the first quarter valued at about $239,000. 89.52% of the stock is currently owned by institutional investors.

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.

Earnings History and Estimates for Schnitzer Steel Industries (NASDAQ:SCHN)

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