Schnitzer Steel Industries (NASDAQ:SCHN) Releases Earnings Results, Beats Expectations By $0.18 EPS

Schnitzer Steel Industries (NASDAQ:SCHN) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.18, MarketWatch Earnings reports. Schnitzer Steel Industries had a net margin of 0.19% and a return on equity of 2.52%. During the same period in the previous year, the firm posted ($0.17) EPS.

Shares of SCHN traded down $2.14 during mid-day trading on Friday, reaching $37.07. 23,318 shares of the stock traded hands, compared to its average volume of 407,391. The firm has a fifty day moving average price of $28.91 and a 200 day moving average price of $21.86. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 331.85 and a beta of 1.42. The company has a current ratio of 3.95, a quick ratio of 2.98 and a debt-to-equity ratio of 0.63. Schnitzer Steel Industries has a 1 year low of $10.09 and a 1 year high of $42.19.

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.02%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is currently 34.72%.

In related news, Director John D. Carter sold 4,416 shares of the company’s stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $22.24, for a total value of $98,211.84. Following the completion of the transaction, the director now directly owns 90,474 shares in the company, valued at $2,012,141.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stefano R. Gaggini sold 3,975 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $21.40, for a total transaction of $85,065.00. Following the completion of the transaction, the chief financial officer now owns 50,270 shares of the company’s stock, valued at $1,075,778. The disclosure for this sale can be found here. Insiders have sold a total of 17,440 shares of company stock valued at $378,011 over the last 90 days. Company insiders own 5.00% of the company’s stock.

SCHN has been the topic of a number of analyst reports. KeyCorp boosted their target price on shares of Schnitzer Steel Industries from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, December 22nd. BidaskClub raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Thursday, October 8th. Finally, Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a report on Friday, November 27th.

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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