Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Expected to Announce Quarterly Sales of $903.65 Million

Equities research analysts expect Schnitzer Steel Industries, Inc. (NASDAQ:SCHNGet Rating) to post $903.65 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Schnitzer Steel Industries’ earnings. The highest sales estimate is $950.30 million and the lowest is $857.00 million. Schnitzer Steel Industries posted sales of $820.72 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The company is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Schnitzer Steel Industries will report full-year sales of $3.17 billion for the current financial year, with estimates ranging from $3.07 billion to $3.27 billion. For the next financial year, analysts anticipate that the company will post sales of $3.22 billion, with estimates ranging from $3.09 billion to $3.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Schnitzer Steel Industries.

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

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

SCHN stock opened at $39.47 on Friday. The firm has a market cap of $1.09 billion, a PE ratio of 6.17 and a beta of 1.49. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.02 and a current ratio of 2.00. The firm’s fifty day moving average is $44.94 and its 200 day moving average is $46.11. Schnitzer Steel Industries has a one year low of $34.37 and a one year high of $59.70.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Monday, April 18th were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, April 14th. Schnitzer Steel Industries’s dividend payout ratio is currently 11.72%.

In other news, SVP Peter B. Saba sold 1,178 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $44.46, for a total value of $52,373.88. Following the transaction, the senior vice president now directly owns 63,261 shares of the company’s stock, valued at $2,812,584.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of SCHN. Marshall Wace LLP purchased a new position in Schnitzer Steel Industries during the first quarter worth about $71,000. FMR LLC raised its stake in shares of Schnitzer Steel Industries by 274,901.9% in the 1st quarter. FMR LLC now owns 143,001 shares of the basic materials company’s stock valued at $3,432,000 after acquiring an additional 142,949 shares during the period. Royal Bank of Canada raised its stake in shares of Schnitzer Steel Industries by 104.9% in the 2nd quarter. Royal Bank of Canada now owns 3,707 shares of the basic materials company’s stock valued at $182,000 after acquiring an additional 1,898 shares during the period. Geode Capital Management LLC raised its stake in shares of Schnitzer Steel Industries by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 465,064 shares of the basic materials company’s stock valued at $20,374,000 after acquiring an additional 7,780 shares during the period. Finally, Credit Suisse AG raised its stake in shares of Schnitzer Steel Industries by 9.2% in the 3rd quarter. Credit Suisse AG now owns 36,398 shares of the basic materials company’s stock valued at $1,594,000 after acquiring an additional 3,054 shares during the period. 83.90% of the stock is currently owned by 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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