Schnitzer Steel Industries, Inc. Plans Quarterly Dividend of $0.19 (SCHN)
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) declared a quarterly dividend on Friday, October 27th, RTT News reports. Shareholders of record on Monday, November 13th will be given a dividend of 0.1875 per share by the basic materials company on Monday, November 27th. This represents a $0.75 annualized dividend and a yield of 2.54%.
Schnitzer Steel Industries (SCHN) traded down 1.50% during trading on Friday, reaching $29.55. 269,502 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $27.91 and a 200 day moving average price of $23.81. Schnitzer Steel Industries has a 1-year low of $17.50 and a 1-year high of $31.35. The stock has a market capitalization of $815.58 million, a P/E ratio of 19.21 and a beta of 1.34.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The business had revenue of $494.00 million during the quarter, compared to the consensus estimate of $495.73 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. Equities research analysts expect that Schnitzer Steel Industries will post $1.62 earnings per share for the current year.
A number of equities research analysts recently weighed in on SCHN shares. TheStreet raised shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Friday, June 30th. ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Friday, July 21st. KeyCorp reaffirmed a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Finally, BidaskClub downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.50.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.
Receive News & Ratings for Schnitzer Steel Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.