Schnitzer Steel Industries (NASDAQ:SCHN) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS


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

Shares of NASDAQ:SCHN traded down $2.21 during midday trading on Friday, reaching $37.00. 17,722 shares of the company’s stock traded hands, compared to its average volume of 407,391. The company has a fifty day simple moving average of $28.91 and a two-hundred day simple moving average of $21.86. Schnitzer Steel Industries has a 1 year low of $10.09 and a 1 year high of $42.19. The company has a market cap of $1.00 billion, a P/E ratio of 331.85 and a beta of 1.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.98 and a current ratio of 3.95.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 18th will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, January 14th. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 34.72%.

In related news, CFO Stefano R. Gaggini sold 3,975 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $21.40, for a total value of $85,065.00. Following the transaction, the chief financial officer now directly owns 50,270 shares of the company’s stock, valued at approximately $1,075,778. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John D. Carter sold 4,416 shares of the firm’s stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $22.24, for a total transaction of $98,211.84. Following the completion of the transaction, the director now directly owns 90,474 shares in the company, valued at $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 three months. 5.00% of the stock is owned by corporate insiders.

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

About Schnitzer Steel Industries

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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