Schnitzer Steel Industries (SCHN) Updates Q3 Earnings Guidance

Schnitzer Steel Industries (NASDAQ:SCHN) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.22-1.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.97.

SCHN traded up $0.35 during trading on Thursday, hitting $33.00. 247,092 shares of the company’s stock traded hands, compared to its average volume of 319,446. The company has a current ratio of 2.42, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36. Schnitzer Steel Industries has a 12-month low of $18.65 and a 12-month high of $38.85. The company has a market cap of $894.50 million, a price-to-earnings ratio of 21.57 and a beta of 1.46.

Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Thursday, April 5th. The basic materials company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.91 by $0.51. Schnitzer Steel Industries had a return on equity of 14.28% and a net margin of 4.68%. The business had revenue of $559.00 million for the quarter, compared to the consensus estimate of $507.82 million. During the same period last year, the business posted $0.37 EPS. The company’s revenue was up 46.3% compared to the same quarter last year. research analysts forecast that Schnitzer Steel Industries will post 3.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 29th. Shareholders of record on Monday, May 14th were paid a dividend of $0.1875 per share. The ex-dividend date was Friday, May 11th. This represents a $0.75 annualized dividend and a yield of 2.27%. Schnitzer Steel Industries’s dividend payout ratio is 49.02%.

SCHN has been the topic of several recent analyst reports. Goldman Sachs Group initiated coverage on Schnitzer Steel Industries in a research note on Tuesday, March 20th. They set a buy rating and a $42.00 target price on the stock. ValuEngine downgraded Schnitzer Steel Industries from a strong-buy rating to a buy rating in a research note on Wednesday, March 28th. Zacks Investment Research downgraded Schnitzer Steel Industries from a buy rating to a hold rating in a research note on Wednesday, March 21st. Finally, BidaskClub downgraded Schnitzer Steel Industries from a buy rating to a hold rating in a research note on Wednesday, April 11th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $33.25.

Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.

Earnings History and Estimates for Schnitzer Steel Industries (NASDAQ:SCHN)

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