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 $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business posted ($0.17) EPS.

Shares of SCHN opened at $39.21 on Friday. Schnitzer Steel Industries has a 12 month low of $10.09 and a 12 month high of $42.19. The firm has a fifty day simple moving average of $28.91 and a 200 day simple moving average of $21.86. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 356.49 and a beta of 1.42. The company has a current ratio of 3.95, a quick ratio of 2.98 and a debt-to-equity ratio of 0.63.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Monday, January 18th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, January 14th. Schnitzer Steel Industries’s payout ratio is 34.72%.

SCHN has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a research report on Friday, November 27th. BidaskClub upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 8th. Finally, KeyCorp boosted their target price on shares of Schnitzer Steel Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 22nd.

In other Schnitzer Steel Industries news, SVP Peter B. Saba sold 9,049 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $21.52, for a total transaction of $194,734.48. Following the sale, the senior vice president now directly owns 69,114 shares of the company’s stock, valued at $1,487,333.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stefano R. Gaggini sold 3,975 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $21.40, for a total transaction of $85,065.00. Following the sale, the chief financial officer now directly owns 50,270 shares in the company, valued at $1,075,778. The disclosure for this sale can be found here. Insiders have sold 17,440 shares of company stock worth $378,011 over 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.

See Also: Management Fee

Earnings History for Schnitzer Steel Industries (NASDAQ:SCHN)

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