Schnitzer Steel Industries (SCHN) Announces Quarterly Earnings, Misses Expectations By $0.32 EPS
Schnitzer Steel Industries (NASDAQ:SCHN) issued its quarterly earnings data on Tuesday. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.32, Analyst RN reports. The company had revenue of $657.00 million for the quarter, compared to the consensus estimate of $645.16 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was down 13.8% on a year-over-year basis.
Shares of Schnitzer Steel Industries (NASDAQ:SCHN) traded up 1.32% on Tuesday, hitting $30.77. The stock had a trading volume of 68,957 shares. Schnitzer Steel Industries has a 52-week low of $23.07 and a 52-week high of $32.99. The stock’s 50-day moving average is $26.42 and its 200-day moving average is $25.93. The company has a market cap of $820.6 million and a P/E ratio of 111.65.
SCHN has been the subject of a number of recent research reports. Analysts at KeyCorp reiterated a “hold” rating on shares of Schnitzer Steel Industries in a research note to investors on Wednesday, August 28th. Analysts at Zacks upgraded shares of Schnitzer Steel Industries from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 7th. They now have a $26.80 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $26.36.
Schnitzer Steel Industries, Inc (NASDAQ:SCHN) is a recycler of ferrous and nonferrous scrap metal.
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