Schnitzer Steel Industries Price Target Cut to $22.00 by Analysts at Jefferies Group (SCHN)
Jefferies Group decreased their target price on shares of Schnitzer Steel Industries (NASDAQ:SCHN) from $23.00 to $22.00 in a research note issued on Monday. Jefferies Group’s price target would suggest a potential downside of 15.09% from the company’s current price.
Separately, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.27.
Schnitzer Steel Industries (NASDAQ:SCHN) traded down 0.31% during mid-day trading on Monday, hitting $25.83. The stock had a trading volume of 56,140 shares. Schnitzer Steel Industries has a 1-year low of $23.12 and a 1-year high of $33.32. The stock has a 50-day moving average of $25.93 and a 200-day moving average of $27.55. The company’s market cap is $692.9 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings data 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. On average, analysts predict that Schnitzer Steel Industries will post $0.26 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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