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

Schnitzer Steel Industries (NASDAQ:SCHN) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.18, MarketWatch Earnings reports. The business had revenue of $402.68 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.63 EPS.

Shares of SCHN stock opened at $16.85 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 3.95. The firm has a market cap of $456.62 million, a price-to-earnings ratio of 27.62 and a beta of 1.38. Schnitzer Steel Industries has a 52 week low of $10.09 and a 52 week high of $27.47. The firm’s 50-day simple moving average is $16.31 and its two-hundred day simple moving average is $16.70.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, June 24th. BidaskClub upgraded Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a report on Friday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus 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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