Schnitzer Steel Industries (SCHN) Issues Quarterly Earnings Results

Schnitzer Steel Industries (NASDAQ:SCHN) issued its quarterly earnings results on Thursday. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.51, Bloomberg Earnings reports. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. The firm had revenue of $559.00 million for the quarter, compared to analyst estimates of $507.82 million. During the same period in the previous year, the business earned $0.37 EPS. The company’s revenue was up 46.3% compared to the same quarter last year.

Schnitzer Steel Industries stock opened at $33.53 on Friday. The stock has a market cap of $889.54, a PE ratio of 14.93 and a beta of 1.41. Schnitzer Steel Industries has a fifty-two week low of $17.50 and a fifty-two week high of $38.85. The company has a current ratio of 2.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33.

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Several equities research analysts have issued reports on SCHN shares. ValuEngine upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Goldman Sachs started coverage on shares of Schnitzer Steel Industries in a research note on Tuesday, March 20th. They issued a “buy” rating and a $42.00 price target on the stock. BidaskClub lowered shares of Schnitzer Steel Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 16th. Finally, Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Friday, March 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Schnitzer Steel Industries currently has a consensus rating of “Buy” and an average target price of $33.25.

Several institutional investors have recently added to or reduced their stakes in SCHN. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Schnitzer Steel Industries by 96.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,481 shares during the last quarter. Sei Investments Co. increased its stake in shares of Schnitzer Steel Industries by 325.7% during the 3rd quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 4,759 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of Schnitzer Steel Industries during the 3rd quarter worth about $204,000. OppenheimerFunds Inc. acquired a new position in shares of Schnitzer Steel Industries during the 4th quarter worth about $247,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Schnitzer Steel Industries during the 4th quarter worth about $258,000. Institutional investors own 91.01% of the company’s stock.

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About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.

Earnings History for Schnitzer Steel Industries (NASDAQ:SCHN)

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