Schnitzer Steel Industries (NASDAQ:SCHN) Issues Quarterly Earnings Results

Schnitzer Steel Industries (NASDAQ:SCHN) announced its quarterly earnings data on Wednesday. The basic materials company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.18, MarketWatch Earnings reports. Schnitzer Steel Industries had a return on equity of 2.52% and a net margin of 0.19%. During the same quarter last year, the firm posted ($0.17) EPS.

NASDAQ:SCHN traded down $2.03 during trading hours on Friday, reaching $37.18. The company had a trading volume of 575,054 shares, compared to its average volume of 407,391. 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 stock has a 50-day moving average of $28.91 and a two-hundred day moving average of $21.86. Schnitzer Steel Industries has a one year low of $10.09 and a one year high of $42.19. The firm has a market capitalization of $1.01 billion, a PE ratio of 331.85 and a beta of 1.42.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Monday, January 18th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, January 14th. Schnitzer Steel Industries’s dividend payout ratio is 34.72%.

Several research analysts recently commented on SCHN shares. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research report on Friday, November 27th. BidaskClub raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Thursday, October 8th. Finally, KeyCorp upped their target price on shares of Schnitzer Steel Industries from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, December 22nd.

In other news, SVP Peter B. Saba sold 9,049 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $21.52, for a total value of $194,734.48. Following the sale, the senior vice president now owns 69,114 shares of the company’s stock, valued at approximately $1,487,333.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stefano R. Gaggini sold 3,975 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $21.40, for a total transaction of $85,065.00. Following the sale, the chief financial officer now owns 50,270 shares of the company’s stock, valued at approximately $1,075,778. The disclosure for this sale can be found here. Insiders have sold 17,440 shares of company stock valued at $378,011 over the last quarter. Corporate insiders own 5.00% 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. 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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Earnings History for Schnitzer Steel Industries (NASDAQ:SCHN)

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