Equities Analysts Set Expectations for Schnitzer Steel Industries, Inc.’s FY2018 Earnings (SCHN)

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) – Equities research analysts at KeyCorp boosted their FY2018 earnings per share estimates for Schnitzer Steel Industries in a research report issued on Monday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $2.65 per share for the year, up from their prior forecast of $2.12. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Schnitzer Steel Industries’ FY2019 earnings at $2.75 EPS.

Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings results on Tuesday, January 9th. The basic materials company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The firm had revenue of $483.00 million for the quarter, compared to analysts’ expectations of $502.02 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year.

A number of other research analysts have also recently commented on SCHN. Zacks Investment Research cut Schnitzer Steel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 19th. ValuEngine raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. BidaskClub raised Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Finally, Morgan Stanley upped their price target on Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. Schnitzer Steel Industries presently has a consensus rating of “Buy” and a consensus target price of $31.33.

Shares of Schnitzer Steel Industries (NASDAQ:SCHN) traded up $1.50 during midday trading on Thursday, hitting $38.70. The stock had a trading volume of 517,100 shares, compared to its average volume of 547,000. Schnitzer Steel Industries has a 1 year low of $17.50 and a 1 year high of $38.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.92 and a quick ratio of 0.97. The stock has a market cap of $1,050.00, a PE ratio of 17.05 and a beta of 1.36.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in Schnitzer Steel Industries by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,261 shares of the basic materials company’s stock worth $536,000 after acquiring an additional 942 shares during the last quarter. D.A. Davidson & CO. increased its stake in Schnitzer Steel Industries by 5.9% in the 2nd quarter. D.A. Davidson & CO. now owns 17,588 shares of the basic materials company’s stock worth $443,000 after acquiring an additional 987 shares during the last quarter. Alliancebernstein L.P. increased its stake in Schnitzer Steel Industries by 3.9% in the 2nd quarter. Alliancebernstein L.P. now owns 29,130 shares of the basic materials company’s stock worth $734,000 after acquiring an additional 1,100 shares during the last quarter. Voya Investment Management LLC increased its stake in Schnitzer Steel Industries by 11.2% in the 2nd quarter. Voya Investment Management LLC now owns 14,205 shares of the basic materials company’s stock worth $358,000 after acquiring an additional 1,435 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Schnitzer Steel Industries by 325.7% in the 3rd quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock worth $175,000 after acquiring an additional 4,759 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Stefano R. Gaggini sold 1,074 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $28.97, for a total transaction of $31,113.78. Following the sale, the vice president now owns 16,480 shares of the company’s stock, valued at approximately $477,425.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Peter B. Saba sold 2,393 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $26.52, for a total value of $63,462.36. Following the sale, the senior vice president now directly owns 30,911 shares in the company, valued at approximately $819,759.72. The disclosure for this sale can be found here. Insiders have sold a total of 22,770 shares of company stock worth $654,919 in the last three months. 3.50% of the stock is currently owned by insiders.

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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.

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