Schnitzer Steel Industries (NASDAQ:SCHN) Issues Quarterly Earnings Results

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Schnitzer Steel Industries (NASDAQ:SCHN) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.18, MarketWatch Earnings reports. Schnitzer Steel Industries had a return on equity of 2.52% and a net margin of 0.19%. During the same quarter last year, the business earned ($0.17) EPS.

Shares of SCHN stock traded down $2.14 during trading on Friday, reaching $37.07. The company had a trading volume of 23,318 shares, compared to its average volume of 407,391. The company has a market capitalization of $1.00 billion, a PE ratio of 331.85 and a beta of 1.42. The firm’s 50 day simple moving average is $28.91 and its two-hundred day simple moving average is $21.86. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.95 and a quick ratio of 2.98. Schnitzer Steel Industries has a one year low of $10.09 and a one year high of $42.19.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Monday, January 18th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, January 14th. Schnitzer Steel Industries’s payout ratio is 34.72%.

A number of research analysts have recently commented on SCHN shares. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a report on Friday, November 27th. KeyCorp raised their price objective on Schnitzer Steel Industries from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, December 22nd. Finally, BidaskClub raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Thursday, October 8th.

In other Schnitzer Steel Industries news, CFO Stefano R. Gaggini sold 3,975 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $21.40, for a total value of $85,065.00. Following the sale, the chief financial officer now owns 50,270 shares of the company’s stock, valued at approximately $1,075,778. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John D. Carter sold 4,416 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $22.24, for a total value of $98,211.84. Following the completion of the sale, the director now directly owns 90,474 shares in the company, valued at approximately $2,012,141.76. The disclosure for this sale can be found here. Insiders sold a total of 17,440 shares of company stock worth $378,011 in the last ninety days. Insiders own 5.00% of the company’s stock.

Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates in 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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