Schnitzer Steel Industries (NASDAQ:SCHN) posted its earnings results on Wednesday. The basic materials company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.18, MarketWatch Earnings reports. Schnitzer Steel Industries had a net margin of 0.19% and a return on equity of 2.52%. During the same quarter last year, the business posted ($0.17) EPS.
Shares of NASDAQ SCHN traded down $2.37 during midday trading on Friday, reaching $36.84. The stock had a trading volume of 16,912 shares, compared to its average volume of 407,391. The firm has a market cap of $998.66 million, a price-to-earnings ratio of 331.85 and a beta of 1.42. Schnitzer Steel Industries has a twelve month low of $10.09 and a twelve month high of $42.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.98 and a current ratio of 3.95. The company’s 50 day moving average price is $28.91 and its 200 day moving average price is $21.86.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 18th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.04%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is currently 34.72%.
In related news, SVP Peter B. Saba sold 9,049 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $21.52, for a total transaction of $194,734.48. Following the transaction, the senior vice president now owns 69,114 shares in the company, valued at approximately $1,487,333.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stefano R. Gaggini sold 3,975 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $21.40, for a total transaction of $85,065.00. Following the transaction, the chief financial officer now owns 50,270 shares in the company, valued at approximately $1,075,778. The disclosure for this sale can be found here. Insiders sold a total of 17,440 shares of company stock worth $378,011 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a research report on Friday, November 27th. KeyCorp boosted their price target on shares of Schnitzer Steel Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 22nd. Finally, BidaskClub upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 8th.
Schnitzer Steel Industries Company Profile
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates in 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.
Further Reading: Limitations of analyzing profit margin
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