Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Expected to Announce Earnings of $2.28 Per Share

Equities analysts expect Schnitzer Steel Industries, Inc. (NASDAQ:SCHNGet Rating) to report earnings per share of $2.28 for the current quarter, Zacks reports. Two analysts have provided estimates for Schnitzer Steel Industries’ earnings, with the highest EPS estimate coming in at $2.33 and the lowest estimate coming in at $2.23. Schnitzer Steel Industries posted earnings per share of $2.20 during the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Schnitzer Steel Industries will report full-year earnings of $6.96 per share for the current financial year, with EPS estimates ranging from $6.90 to $7.01. For the next year, analysts forecast that the firm will post earnings of $5.45 per share, with EPS estimates ranging from $3.40 to $7.50. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Schnitzer Steel Industries.

Schnitzer Steel Industries (NASDAQ:SCHNGet Rating) last announced its quarterly earnings data on Wednesday, April 6th. The basic materials company reported $1.38 EPS for the quarter, meeting the consensus estimate of $1.38. The business had revenue of $783.20 million during the quarter, compared to the consensus estimate of $779.39 million. Schnitzer Steel Industries had a net margin of 5.86% and a return on equity of 24.20%. The company’s revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 earnings per share.

Several equities analysts recently issued reports on the stock. StockNews.com lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Wednesday. The Goldman Sachs Group lowered their target price on shares of Schnitzer Steel Industries from $63.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Finally, KeyCorp upped their price objective on shares of Schnitzer Steel Industries from $59.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.33.

Shares of Schnitzer Steel Industries stock traded down $3.23 during trading on Wednesday, hitting $41.17. The company’s stock had a trading volume of 203,039 shares, compared to its average volume of 322,334. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.02. Schnitzer Steel Industries has a 52 week low of $34.37 and a 52 week high of $59.70. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 6.43 and a beta of 1.49. The stock has a 50-day moving average price of $45.19 and a two-hundred day moving average price of $46.22.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Monday, April 18th were issued a dividend of $0.1875 per share. The ex-dividend date was Thursday, April 14th. This represents a $0.75 annualized dividend and a dividend yield of 1.82%. Schnitzer Steel Industries’s payout ratio is 11.72%.

In related news, SVP Peter B. Saba sold 1,178 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $44.46, for a total transaction of $52,373.88. Following the completion of the sale, the senior vice president now directly owns 63,261 shares in the company, valued at $2,812,584.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.20% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Cutler Group LP raised its stake in shares of Schnitzer Steel Industries by 130.1% in the fourth quarter. Cutler Group LP now owns 517 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 2,233 shares during the period. Koshinski Asset Management Inc. bought a new stake in shares of Schnitzer Steel Industries in the 4th quarter valued at about $37,000. Marshall Wace LLP bought a new stake in shares of Schnitzer Steel Industries in the 1st quarter valued at about $71,000. US Bancorp DE boosted its holdings in shares of Schnitzer Steel Industries by 53.4% in the 1st quarter. US Bancorp DE now owns 2,339 shares of the basic materials company’s stock valued at $121,000 after buying an additional 814 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Schnitzer Steel Industries in the 1st quarter valued at approximately $125,000. 83.90% of the stock is currently owned by hedge funds and other institutional investors.

About Schnitzer Steel Industries (Get Rating)

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.

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