Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $31.33.
A number of research firms have issued reports on SCHN. Morgan Stanley boosted their target price on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Tuesday, January 2nd. ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Saturday, December 9th. Finally, BidaskClub raised shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd.
Hedge funds have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. bought a new stake in shares of Schnitzer Steel Industries during the 3rd quarter worth about $597,000. Engineers Gate Manager LP raised its position in shares of Schnitzer Steel Industries by 126.4% during the 3rd quarter. Engineers Gate Manager LP now owns 41,286 shares of the basic materials company’s stock worth $1,162,000 after buying an additional 23,049 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Schnitzer Steel Industries by 18.9% during the 3rd quarter. Prudential Financial Inc. now owns 232,427 shares of the basic materials company’s stock worth $6,543,000 after buying an additional 37,010 shares in the last quarter. Hillcrest Asset Management LLC bought a new stake in shares of Schnitzer Steel Industries during the 3rd quarter worth about $5,651,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of Schnitzer Steel Industries by 79.3% during the 2nd 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 in the last quarter. Institutional investors own 87.76% of the company’s stock.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its earnings results on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $483.00 million during the quarter, compared to analyst estimates of $502.02 million. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. Schnitzer Steel Industries’s revenue was up 44.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. research analysts anticipate that Schnitzer Steel Industries will post 2.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 26th. Shareholders of record on Monday, February 12th will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, February 9th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.19%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is 32.89%.
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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