Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have been assigned a consensus recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $27.00.
SCHN has been the topic of several analyst reports. BidaskClub upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Zacks Investment Research cut shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Friday, August 30th. ValuEngine cut shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Finally, Cowen restated a “market perform” rating and set a $25.00 price target (up from $24.00) on shares of Schnitzer Steel Industries in a report on Tuesday, June 25th.
Schnitzer Steel Industries stock traded down $0.17 during midday trading on Friday, hitting $24.46. 4,063 shares of the stock were exchanged, compared to its average volume of 166,981. Schnitzer Steel Industries has a 52-week low of $20.94 and a 52-week high of $28.90. The stock has a market capitalization of $681.50 million, a price-to-earnings ratio of 4.52 and a beta of 1.50. The business’s 50-day moving average price is $23.81 and its 200-day moving average price is $24.05. The company has a quick ratio of 1.22, a current ratio of 2.36 and a debt-to-equity ratio of 0.20.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings results on Wednesday, June 26th. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Schnitzer Steel Industries had a net margin of 4.63% and a return on equity of 15.72%. The business had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $542.24 million. During the same period in the previous year, the company earned $1.26 earnings per share. The firm’s revenue for the quarter was down 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Schnitzer Steel Industries will post 2.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.07%. The ex-dividend date was Monday, August 12th. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 13.91%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BSW Wealth Partners purchased a new position in Schnitzer Steel Industries in the second quarter valued at about $52,000. New York State Teachers Retirement System purchased a new position in Schnitzer Steel Industries in the first quarter valued at about $55,000. Marshall Wace LLP purchased a new position in Schnitzer Steel Industries in the first quarter valued at about $71,000. Smith Asset Management Group LP purchased a new position in Schnitzer Steel Industries in the second quarter valued at about $82,000. Finally, Marshall Wace North America L.P. purchased a new position in Schnitzer Steel Industries in the first quarter valued at about $143,000. Hedge funds and other institutional investors own 86.07% 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. The company operates through two segments, Auto and Metals Recycling (AMR), and Cascade Steel and Scrap (CSS). The AMR segment acquires, processes, and recycles scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.
Recommended Story: What is meant by a buy rating?
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.