$0.70 EPS Expected for Schnitzer Steel Industries, Inc. (SCHN) This Quarter

Wall Street brokerages expect that Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) will announce earnings of $0.70 per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Schnitzer Steel Industries’ earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.67. Schnitzer Steel Industries reported earnings per share of $0.37 during the same quarter last year, which indicates a positive year-over-year growth rate of 89.2%. The company is scheduled to issue its next quarterly earnings report on Thursday, April 5th.

According to Zacks, analysts expect that Schnitzer Steel Industries will report full-year earnings of $2.68 per share for the current fiscal year, with EPS estimates ranging from $2.48 to $2.87. 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’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Schnitzer Steel Industries.

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

SCHN has been the topic of several recent research reports. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Saturday, October 21st. BidaskClub upgraded Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. ValuEngine upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Morgan Stanley increased their price target on Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, October 31st. 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. The stock has a consensus rating of “Buy” and a consensus target price of $31.33.

Large investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new stake in Schnitzer Steel Industries in the third quarter worth $597,000. Engineers Gate Manager LP increased its stake in Schnitzer Steel Industries by 126.4% in the third quarter. Engineers Gate Manager LP now owns 41,286 shares of the basic materials company’s stock worth $1,162,000 after purchasing an additional 23,049 shares during the period. Prudential Financial Inc. increased its stake in Schnitzer Steel Industries by 18.9% in the third quarter. Prudential Financial Inc. now owns 232,427 shares of the basic materials company’s stock worth $6,543,000 after purchasing an additional 37,010 shares during the period. Hillcrest Asset Management LLC purchased a new stake in Schnitzer Steel Industries in the third quarter worth $5,651,000. Finally, TIAA CREF Investment Management LLC increased its stake in Schnitzer Steel Industries by 79.3% in 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 purchasing an additional 83,951 shares during the period. Institutional investors own 87.76% of the company’s stock.

Schnitzer Steel Industries (SCHN) traded up $0.60 during trading hours on Wednesday, reaching $34.20. The company had a trading volume of 617,200 shares, compared to its average volume of 407,657. Schnitzer Steel Industries has a one year low of $17.50 and a one year high of $38.85. The stock has a market cap of $914.02, a price-to-earnings ratio of 15.00 and a beta of 1.40. The company has a quick ratio of 1.04, a current ratio of 2.31 and a debt-to-equity ratio of 0.33.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 12th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, February 9th. This represents a $0.75 annualized dividend and a yield of 2.19%. Schnitzer Steel Industries’s payout ratio is presently 32.89%.

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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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