Schnitzer Steel Industries Upgraded to Hold at Jefferson Research (SCHN)
Schnitzer Steel Industries (NASDAQ:SCHN) was upgraded by equities research analysts at Jefferson Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, American Banking & Market News reports.
A number of other analysts have also recently weighed in on SCHN. Analysts at Zacks downgraded shares of Schnitzer Steel Industries from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, November 27th. They now have a $28.60 price target on the stock. Separately, analysts at Jefferies Group downgraded shares of Schnitzer Steel Industries from a “hold” rating to an “underperform” rating in a research note to investors on Monday, November 25th. They now have a $25.00 price target on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Schnitzer Steel Industries from $26.00 to $25.00 in a research note to investors on Wednesday, October 30th. They now have a “hold” rating on the stock. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Schnitzer Steel Industries currently has an average rating of “Hold” and an average price target of $26.52.
Shares of Schnitzer Steel Industries (NASDAQ:SCHN) traded up 0.60% during mid-day trading on Friday, hitting $28.57. The stock had a trading volume of 356,602 shares. Schnitzer Steel Industries has a 52-week low of $23.07 and a 52-week high of $33.32. The stock’s 50-day moving average is $30. and its 200-day moving average is $27.99. The company’s market cap is $750.0 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings results on Wednesday, January 8th. The company reported ($0.18) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.06) by $0.12. The company had revenue of $587.80 million for the quarter, compared to the consensus estimate of $618.04 million. During the same quarter last year, the company posted ($0.02) earnings per share. Schnitzer Steel Industries’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that Schnitzer Steel Industries will post $0.76 earnings per share for the current fiscal year.
Schnitzer Steel Industries, Inc (NASDAQ:SCHN) is a recycler of ferrous and nonferrous scrap metal.
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