$1.00 Earnings Per Share Expected for Schnitzer Steel Industries (SCHN) This Quarter

Wall Street brokerages expect that Schnitzer Steel Industries (NASDAQ:SCHN) will announce earnings of $1.00 per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Schnitzer Steel Industries’ earnings. The highest EPS estimate is $1.05 and the lowest is $0.94. Schnitzer Steel Industries posted earnings of $0.56 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 78.6%. The business is expected to announce its next earnings report before the market opens on Tuesday, June 26th.

On average, analysts expect that Schnitzer Steel Industries will report full year earnings of $3.48 per share for the current financial year, with EPS estimates ranging from $3.36 to $3.60. For the next year, analysts forecast that the business will report earnings of $2.84 per share, with EPS estimates ranging from $2.80 to $2.88. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Schnitzer Steel Industries.

Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Thursday, April 5th. The basic materials company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.51. Schnitzer Steel Industries had a net margin of 4.68% and a return on equity of 14.28%. The firm had revenue of $559.00 million for the quarter, compared to analyst estimates of $507.82 million. During the same quarter last year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up 46.3% on a year-over-year basis.

A number of brokerages have weighed in on SCHN. BidaskClub upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Saturday. ValuEngine upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Finally, Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Saturday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $33.50.

Schnitzer Steel Industries traded down $1.40, reaching $34.75, during mid-day trading on Thursday, Marketbeat Ratings reports. The company had a trading volume of 310,900 shares, compared to its average volume of 326,407. Schnitzer Steel Industries has a fifty-two week low of $19.25 and a fifty-two week high of $38.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.25. The firm has a market capitalization of $970.40 million, a P/E ratio of 22.75 and a beta of 1.46.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 29th. Shareholders of record on Monday, May 14th were given a $0.1875 dividend. The ex-dividend date of this dividend was Friday, May 11th. This represents a $0.75 dividend on an annualized basis and a yield of 2.16%. Schnitzer Steel Industries’s dividend payout ratio is currently 49.02%.

Several large investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Schnitzer Steel Industries by 96.5% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,481 shares during the period. Piermont Capital Management Inc. lifted its holdings in shares of Schnitzer Steel Industries by 2.3% during the first quarter. Piermont Capital Management Inc. now owns 81,356 shares of the basic materials company’s stock worth $2,632,000 after purchasing an additional 1,800 shares during the period. Affinity Investment Advisors LLC lifted its holdings in shares of Schnitzer Steel Industries by 19.7% during the first quarter. Affinity Investment Advisors LLC now owns 10,987 shares of the basic materials company’s stock worth $355,000 after purchasing an additional 1,811 shares during the period. Koch Industries Inc. lifted its holdings in shares of Schnitzer Steel Industries by 27.3% during the fourth quarter. Koch Industries Inc. now owns 10,076 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 2,158 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Schnitzer Steel Industries by 134.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,784 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 2,747 shares during the period. Institutional investors own 89.57% of the company’s stock.

Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers 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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Earnings History and Estimates for Schnitzer Steel Industries (NASDAQ:SCHN)

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