BidaskClub cut shares of Schnitzer Steel Industries (NASDAQ:SCHN) from a hold rating to a sell rating in a research note released on Saturday, BidAskClub reports.
Other analysts have also issued reports about the company. TheStreet lowered Schnitzer Steel Industries from a b- rating to a c+ rating in a research note on Friday, October 18th. ValuEngine lowered Schnitzer Steel Industries from a buy rating to a hold rating in a research note on Thursday, November 14th. Zacks Investment Research upgraded Schnitzer Steel Industries from a strong sell rating to a hold rating in a research note on Saturday, December 28th. Macquarie set a $23.00 target price on Schnitzer Steel Industries and gave the company a hold rating in a research note on Friday, September 27th. Finally, Cowen lowered their target price on Schnitzer Steel Industries from $22.00 to $21.00 and set a market perform rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Schnitzer Steel Industries presently has a consensus rating of Hold and an average target price of $23.50.
Shares of Schnitzer Steel Industries stock opened at $20.82 on Friday. The business’s fifty day simple moving average is $21.72 and its 200 day simple moving average is $22.65. The firm has a market capitalization of $550.63 million, a P/E ratio of 9.64 and a beta of 1.46. Schnitzer Steel Industries has a 12 month low of $18.68 and a 12 month high of $27.47. The company has a current ratio of 2.16, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings results on Wednesday, January 8th. The basic materials company reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.01). The business had revenue of $405.58 million for the quarter, compared to the consensus estimate of $406.46 million. Schnitzer Steel Industries had a return on equity of 5.56% and a net margin of 1.68%. The business’s revenue was down 28.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 earnings per share. Analysts predict that Schnitzer Steel Industries will post 0.93 EPS for the current fiscal year.
In other news, SVP Peter B. Saba sold 9,333 shares of Schnitzer Steel Industries stock in a transaction on Monday, November 4th. The stock was sold at an average price of $22.14, for a total value of $206,632.62. Following the completion of the transaction, the senior vice president now directly owns 58,305 shares in the company, valued at $1,290,872.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Peach sold 24,090 shares of Schnitzer Steel Industries stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $21.86, for a total value of $526,607.40. Following the completion of the transaction, the chief financial officer now owns 184,077 shares of the company’s stock, valued at $4,023,923.22. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SCHN. Marshall Wace LLP purchased a new position in shares of Schnitzer Steel Industries in the first quarter valued at $71,000. Meeder Asset Management Inc. grew its position in Schnitzer Steel Industries by 257.5% during the third quarter. Meeder Asset Management Inc. now owns 3,707 shares of the basic materials company’s stock worth $76,000 after buying an additional 2,670 shares in the last quarter. Smith Asset Management Group LP purchased a new position in Schnitzer Steel Industries during the second quarter worth about $82,000. Squarepoint Ops LLC purchased a new position in Schnitzer Steel Industries during the third quarter worth about $277,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Schnitzer Steel Industries by 4.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,892 shares of the basic materials company’s stock worth $308,000 after buying an additional 600 shares in the last quarter. Institutional investors own 88.47% of the company’s stock.
Schnitzer Steel Industries Company Profile
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.
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