Schnitzer Steel Industries Inc. Announces Quarterly Dividend of $0.19 (SCHN)
Schnitzer Steel Industries (NASDAQ:SCHN) announced a quarterly dividend on Wednesday, April 30th, American Banking News reports. Investors of record on Monday, May 12th will be paid a dividend of 0.1875 per share on Tuesday, May 27th. This represents a $0.75 annualized dividend and a dividend yield of 2.67%.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Schnitzer Steel Industries from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 16th. They now have a $28.80 price target on the stock. On the ratings front, analysts at Sidoti initiated coverage on shares of Schnitzer Steel Industries in a research note on Friday, March 21st. They set a “buy” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Schnitzer Steel Industries from $25.00 to $23.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Schnitzer Steel Industries currently has an average rating of “Hold” and a consensus target price of $25.95.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.06 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.10 by $0.04. The company had revenue of $26.00 million for the quarter, compared to the consensus estimate of $665.52 million. During the same quarter last year, the company posted $0.36 earnings per share. Schnitzer Steel Industries’s revenue was down 5.4% compared to the same quarter last year.
Schnitzer Steel Industries, Inc (NASDAQ:SCHN) is a recycler of ferrous and nonferrous scrap metal.
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