Schnitzer Steel Industries, Inc. (SCHN) Expected to Announce Earnings of $0.67 Per Share

Analysts forecast that Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) will report earnings per share of $0.67 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Schnitzer Steel Industries’ earnings. Schnitzer Steel Industries posted earnings of $0.37 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 81.1%. The firm is scheduled to report its next earnings report on Thursday, April 5th.

According to Zacks, analysts expect that Schnitzer Steel Industries will report full year earnings of $2.57 per share for the current fiscal year, with EPS estimates ranging from $2.48 to $2.65. For the next financial year, analysts expect that the business will report earnings of $2.89 per share, with EPS estimates ranging from $2.75 to $3.02. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Schnitzer Steel Industries.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings results on Tuesday, January 9th. The basic materials company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. The company had revenue of $483.00 million for the quarter, compared to the consensus estimate of $502.02 million. During the same quarter last year, the firm posted ($0.05) EPS. The firm’s revenue was up 44.6% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on SCHN shares. ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Saturday, December 9th. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a report on Tuesday, January 2nd. Morgan Stanley increased 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. BidaskClub raised Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.33.

In other Schnitzer Steel Industries news, SVP Jeffery Dyck sold 8,327 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $30.05, for a total value of $250,226.35. Following the completion of the sale, the senior vice president now owns 49,184 shares of the company’s stock, valued at $1,477,979.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Peter B. Saba sold 2,393 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $26.52, for a total value of $63,462.36. Following the completion of the sale, the senior vice president now directly owns 30,911 shares of the company’s stock, valued at approximately $819,759.72. The disclosure for this sale can be found here. In the last three months, insiders sold 22,770 shares of company stock valued at $654,919. 3.80% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its position in Schnitzer Steel Industries by 1.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 409,102 shares of the basic materials company’s stock worth $10,310,000 after acquiring an additional 5,583 shares during the period. Wells Fargo & Company MN increased its position in Schnitzer Steel Industries by 395.2% during the second quarter. Wells Fargo & Company MN now owns 577,820 shares of the basic materials company’s stock worth $14,561,000 after buying an additional 461,146 shares during the last quarter. Alliancebernstein L.P. increased its position in Schnitzer Steel Industries by 3.9% during the second quarter. Alliancebernstein L.P. now owns 29,130 shares of the basic materials company’s stock worth $734,000 after buying an additional 1,100 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Schnitzer Steel Industries by 79.3% during the second quarter. TIAA CREF Investment Management LLC now owns 189,760 shares of the basic materials company’s stock worth $4,782,000 after buying an additional 83,951 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in shares of Schnitzer Steel Industries by 56.4% during the second quarter. Nationwide Fund Advisors now owns 75,140 shares of the basic materials company’s stock worth $1,894,000 after acquiring an additional 27,100 shares during the period. Institutional investors and hedge funds own 86.31% of the company’s stock.

Schnitzer Steel Industries (SCHN) traded up $0.50 during trading on Friday, hitting $35.75. 280,417 shares of the stock were exchanged, compared to its average volume of 418,199. Schnitzer Steel Industries has a fifty-two week low of $17.50 and a fifty-two week high of $38.85. The stock has a market capitalization of $979.06, a price-to-earnings ratio of 15.75 and a beta of 1.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.31 and a quick ratio of 1.04.

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Schnitzer Steel Industries Company Profile

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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