Media headlines about Schnitzer Steel Industries (NASDAQ:SCHN) have been trending somewhat positive on Wednesday, according to Accern Sentiment. The research group scores the sentiment of media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Schnitzer Steel Industries earned a news sentiment score of 0.15 on Accern’s scale. Accern also gave media stories about the basic materials company an impact score of 47.5841637794799 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Shares of Schnitzer Steel Industries stock traded down $2.25 during trading on Wednesday, reaching $26.00. The company had a trading volume of 37,318 shares, compared to its average volume of 317,615. The firm has a market cap of $801.73 million, a PE ratio of 17.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.12 and a current ratio of 2.20. Schnitzer Steel Industries has a fifty-two week low of $24.60 and a fifty-two week high of $38.85.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Tuesday, June 26th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.08. The business had revenue of $652.00 million for the quarter, compared to analyst estimates of $651.09 million. Schnitzer Steel Industries had a net margin of 5.25% and a return on equity of 17.21%. The company’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 EPS. equities analysts predict that Schnitzer Steel Industries will post 3.56 earnings per share for the current year.
A number of research firms have weighed in on SCHN. BidaskClub cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Saturday, June 16th. ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Finally, Morgan Stanley cut shares of Schnitzer Steel Industries from an “equal” rating to a “weight” rating and decreased their price objective for the company from $38.00 to $26.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Schnitzer Steel Industries presently has a consensus rating of “Hold” and a consensus price target of $32.75.
In other news, Director John D. Carter sold 13,676 shares of the company’s stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $37.02, for a total value of $506,285.52. Following the sale, the director now owns 62,454 shares in the company, valued at approximately $2,312,047.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.
About Schnitzer Steel Industries
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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