Schnitzer Steel Industries (NASDAQ:SCHN) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Schnitzer Steel Industries (NASDAQ:SCHN) issued its quarterly earnings data on Wednesday. The basic materials company reported $0.57 EPS 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 period last year, the company earned ($0.17) earnings per share.

SCHN traded down $2.21 on Friday, hitting $37.00. The company had a trading volume of 17,722 shares, compared to its average volume of 407,391. The business’s fifty day simple moving average is $28.91 and its 200 day simple moving average is $21.86. The company has a quick ratio of 2.98, a current ratio of 3.95 and a debt-to-equity ratio of 0.63. Schnitzer Steel Industries has a 12-month low of $10.09 and a 12-month high of $42.19. The company has a market cap of $1.00 billion, a PE ratio of 331.85 and a beta of 1.42.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 18th will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, January 14th. Schnitzer Steel Industries’s dividend payout ratio is 34.72%.

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

In other Schnitzer Steel Industries news, Director John D. Carter sold 4,416 shares of the business’s stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $22.24, for a total transaction of $98,211.84. Following the transaction, the director now owns 90,474 shares in the company, valued at $2,012,141.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stefano R. Gaggini sold 3,975 shares of the stock in a transaction on 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 directly owns 50,270 shares in the company, valued at approximately $1,075,778. The disclosure for this sale can be found here. Insiders have sold 17,440 shares of company stock worth $378,011 over the last three months. 5.00% of the stock is currently owned by insiders.

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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Earnings History for Schnitzer Steel Industries (NASDAQ:SCHN)

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