Schnitzer Steel Industries Upgraded by Zacks to Neutral (SCHN)
Schnitzer Steel Industries (NASDAQ:SCHN) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday, Stock Ratings Network reports. The firm currently has a $31.10 price target on the stock. Zacks‘ target price points to a potential upside of 2.40% from the company’s current price.
Schnitzer Steel Industries (NASDAQ:SCHN) traded down 6.06% during mid-day trading on Tuesday, hitting $28.53. 566,015 shares of the company’s stock traded hands. 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 $760.9 million and a P/E ratio of 111.65.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.32. 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 previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. Analysts expect that Schnitzer Steel Industries will post $0.20 EPS for the current fiscal year.
Separately, analysts at KeyCorp reiterated a “hold” rating on shares of Schnitzer Steel Industries in a research note to investors on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.22.
Schnitzer Steel Industries, Inc (NASDAQ:SCHN) is a recycler of ferrous and nonferrous scrap metal.
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