Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced a quarterly dividend on Friday, July 31st, RTT News reports. Shareholders of record on Monday, August 10th will be given a dividend of 0.1875 per share by the basic materials company on Monday, August 24th. This represents a $0.75 annualized dividend and a yield of 4.08%.
Schnitzer Steel Industries has a payout ratio of -416.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Schnitzer Steel Industries to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 77.3%.
NASDAQ:SCHN traded down $0.03 during mid-day trading on Friday, hitting $18.40. 220,075 shares of the company traded hands, compared to its average volume of 271,707. The stock’s fifty day moving average price is $17.21 and its 200-day moving average price is $16.09. Schnitzer Steel Industries has a one year low of $10.09 and a one year high of $27.47. The company has a quick ratio of 2.98, a current ratio of 3.95 and a debt-to-equity ratio of 0.80. The firm has a market cap of $489.16 million, a price-to-earnings ratio of 167.29 and a beta of 1.38.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Wednesday, July 1st. The basic materials company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.18. The firm had revenue of $402.68 million during the quarter, compared to analyst estimates of $368.60 million. Schnitzer Steel Industries had a return on equity of 2.52% and a net margin of 0.19%. During the same quarter in the prior year, the company posted $0.63 earnings per share. Equities analysts predict that Schnitzer Steel Industries will post 0.34 EPS for the current year.
A number of equities analysts have recently weighed in on the company. BidaskClub raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $22.00.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates through two segments, Auto and Metals Recycling (AMR), and Cascade Steel and Scrap (CSS). The AMR segment acquires, processes, and recycles scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.
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