Schnitzer Steel Industries (NASDAQ:SCHN) Announces Earnings Results

Schnitzer Steel Industries (NASDAQ:SCHN) released its earnings results on Wednesday. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.18, MarketWatch Earnings reports. The firm had revenue of $402.68 million during the quarter, compared to analyst estimates of $368.60 million. Schnitzer Steel Industries had a net margin of 0.19% and a return on equity of 2.52%. During the same period last year, the business earned $0.63 earnings per share.

Shares of NASDAQ SCHN opened at $16.85 on Friday. The firm has a market cap of $456.62 million, a P/E ratio of 27.62 and a beta of 1.38. Schnitzer Steel Industries has a twelve month low of $10.09 and a twelve month high of $27.47. The company has a quick ratio of 1.11, a current ratio of 3.95 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $16.31 and a 200 day moving average of $16.70.

A number of brokerages have issued reports on SCHN. BidaskClub upgraded Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a research note on Friday, May 29th. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the stock. Schnitzer Steel Industries has a consensus rating of “Hold” and an average price target of $22.00.

About Schnitzer Steel Industries

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

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Earnings History for Schnitzer Steel Industries (NASDAQ:SCHN)

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