Schnitzer Steel Industries (SCHN) Releases Q1 Earnings Guidance

Schnitzer Steel Industries (NASDAQ:SCHN) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.59 -0.63 for the period, compared to the Thomson Reuters consensus estimate of $0.56.

SCHN has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an equal weight rating in a research report on Tuesday, October 31st. Macquarie initiated coverage on shares of Schnitzer Steel Industries in a research report on Wednesday, September 6th. They issued a neutral rating and a $26.00 price objective on the stock. Zacks Investment Research cut shares of Schnitzer Steel Industries from a buy rating to a hold rating in a research report on Thursday, October 26th. ValuEngine upgraded shares of Schnitzer Steel Industries from a hold rating to a buy rating in a research report on Saturday, December 9th. Finally, KeyCorp restated a hold rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $29.33.

Schnitzer Steel Industries (NASDAQ:SCHN) traded up $0.55 during mid-day trading on Tuesday, hitting $30.35. 243,000 shares of the company’s stock were exchanged, compared to its average volume of 412,967. Schnitzer Steel Industries has a 12-month low of $17.50 and a 12-month high of $31.35. The stock has a market capitalization of $806.45, a PE ratio of 19.48 and a beta of 1.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.92 and a quick ratio of 0.97.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The company had revenue of $494.00 million for the quarter, compared to analysts’ expectations of $495.73 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. Schnitzer Steel Industries’s quarterly revenue was up 26.3% on a year-over-year basis. research analysts expect that Schnitzer Steel Industries will post 2.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 13th were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Friday, November 10th. Schnitzer Steel Industries’s dividend payout ratio is currently 47.17%.

In related news, SVP Jeffery Dyck sold 8,327 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $30.05, for a total transaction of $250,226.35. Following the transaction, the senior vice president now owns 49,184 shares in the company, valued at $1,477,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Peter B. Saba sold 2,393 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $26.52, for a total transaction of $63,462.36. Following the transaction, the senior vice president now owns 30,911 shares in the company, valued at approximately $819,759.72. The disclosure for this sale can be found here. Insiders have sold 22,770 shares of company stock worth $654,919 in the last quarter. 3.80% of the stock is owned by corporate insiders.

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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.

Earnings History and Estimates for Schnitzer Steel Industries (NASDAQ:SCHN)

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