Schnitzer Steel Industries (SCHN) to Release Earnings on Wednesday
Schnitzer Steel Industries (NASDAQ:SCHN) is scheduled to be releasing its earnings data before the market opens on Wednesday, January 3rd. Analysts expect Schnitzer Steel Industries to post earnings of $0.54 per share for the quarter.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The firm had revenue of $494.00 million for the quarter, compared to the consensus estimate of $495.73 million. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. On average, analysts expect Schnitzer Steel Industries to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of Schnitzer Steel Industries (SCHN) opened at $34.95 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.92 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $895.75, a price-to-earnings ratio of 21.98 and a beta of 1.36. Schnitzer Steel Industries has a 1-year low of $17.50 and a 1-year high of $35.00.
In other Schnitzer Steel Industries news, SVP Jeffery Dyck sold 8,327 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $30.05, for a total transaction of $250,226.35. Following the sale, the senior vice president now owns 49,184 shares in the company, valued at approximately $1,477,979.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Peach sold 8,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $28.33, for a total value of $226,640.00. Following the sale, the chief financial officer now owns 119,283 shares in the company, valued at approximately $3,379,287.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,770 shares of company stock worth $654,919. 3.50% of the stock is owned by company insiders.
Several research firms recently issued reports on SCHN. BidaskClub upgraded Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Saturday, October 21st. ValuEngine upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Saturday, December 9th. Morgan Stanley upped their price target on Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 31st. Finally, KeyCorp restated a “hold” rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.33.
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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.
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