FY2021 Earnings Estimate for Schnitzer Steel Industries, Inc. Issued By KeyCorp (NASDAQ:SCHN)


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Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) – Analysts at KeyCorp increased their FY2021 earnings estimates for Schnitzer Steel Industries in a report issued on Monday, January 11th. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $3.05 per share for the year, up from their previous forecast of $2.15. KeyCorp has a “Overweight” rating and a $35.00 price target on the stock.

Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings data on Wednesday, January 6th. The basic materials company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.18. Schnitzer Steel Industries had a net margin of 0.19% and a return on equity of 2.52%. During the same period in the prior year, the business earned ($0.17) earnings per share.

A number of other brokerages also recently commented on SCHN. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research note on Friday, November 27th. BidaskClub raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Thursday, October 8th. Finally, TheStreet raised shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research note on Thursday, January 7th.

Shares of NASDAQ:SCHN opened at $33.96 on Thursday. The company has a market capitalization of $920.59 million, a price-to-earnings ratio of 308.76 and a beta of 1.42. Schnitzer Steel Industries has a 52 week low of $10.09 and a 52 week high of $42.19. The company has a quick ratio of 2.98, a current ratio of 3.95 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $30.66 and a 200 day moving average of $22.56.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 18th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.21%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 34.72%.

In related news, CFO Stefano R. Gaggini sold 3,975 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $21.40, for a total transaction of $85,065.00. Following the completion of the sale, the chief financial officer now owns 50,270 shares of the company’s stock, valued at approximately $1,075,778. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Peter B. Saba sold 9,049 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $21.52, for a total transaction of $194,734.48. Following the sale, the senior vice president now directly owns 69,114 shares of the company’s stock, valued at approximately $1,487,333.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,440 shares of company stock worth $378,011. Company insiders own 5.00% of the company’s stock.

Several large investors have recently made changes to their positions in SCHN. California State Teachers Retirement System boosted its holdings in shares of Schnitzer Steel Industries by 2.2% during the 2nd quarter. California State Teachers Retirement System now owns 39,677 shares of the basic materials company’s stock valued at $700,000 after acquiring an additional 871 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Schnitzer Steel Industries by 3.5% during the 3rd quarter. Engineers Gate Manager LP now owns 32,222 shares of the basic materials company’s stock valued at $620,000 after acquiring an additional 1,090 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Schnitzer Steel Industries by 12.9% during the 2nd quarter. Advisor Group Holdings Inc. now owns 9,938 shares of the basic materials company’s stock valued at $175,000 after acquiring an additional 1,133 shares in the last quarter. Founders Capital Management acquired a new stake in shares of Schnitzer Steel Industries during the 4th quarter valued at $41,000. Finally, California Public Employees Retirement System boosted its holdings in shares of Schnitzer Steel Industries by 2.5% during the 3rd quarter. California Public Employees Retirement System now owns 58,336 shares of the basic materials company’s stock valued at $1,122,000 after acquiring an additional 1,400 shares in the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.

Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates in 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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