Analysts Expect Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) to Announce $1.58 Earnings Per Share

Analysts expect Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) to report earnings per share of $1.58 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Schnitzer Steel Industries’ earnings, with the highest EPS estimate coming in at $1.68 and the lowest estimate coming in at $1.48. Schnitzer Steel Industries reported earnings of $0.23 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 587%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, October 21st.

On average, analysts expect that Schnitzer Steel Industries will report full-year earnings of $5.82 per share for the current fiscal year, with EPS estimates ranging from $5.63 to $6.00. For the next fiscal year, analysts forecast that the company will post earnings of $5.07 per share, with EPS estimates ranging from $4.25 to $5.88. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Schnitzer Steel Industries.

SCHN has been the subject of a number of recent research reports. Northland Securities initiated coverage on Schnitzer Steel Industries in a research note on Monday, July 19th. They issued an “outperform” rating for the company. Zacks Investment Research lowered Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research note on Thursday, September 23rd. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $42.67.

A number of large investors have recently made changes to their positions in SCHN. Marshall Wace LLP purchased a new position in Schnitzer Steel Industries during the 1st quarter valued at about $71,000. FMR LLC increased its holdings in Schnitzer Steel Industries by 274,901.9% during the 1st quarter. FMR LLC now owns 143,001 shares of the basic materials company’s stock valued at $3,432,000 after purchasing an additional 142,949 shares during the period. Swiss National Bank increased its holdings in Schnitzer Steel Industries by 1.8% during the 1st quarter. Swiss National Bank now owns 61,500 shares of the basic materials company’s stock valued at $2,570,000 after purchasing an additional 1,100 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Schnitzer Steel Industries by 66.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,486 shares of the basic materials company’s stock worth $522,000 after acquiring an additional 4,998 shares during the period. Finally, American International Group Inc. grew its holdings in shares of Schnitzer Steel Industries by 1.6% during the 1st quarter. American International Group Inc. now owns 15,239 shares of the basic materials company’s stock worth $637,000 after acquiring an additional 238 shares during the period. Institutional investors own 81.51% of the company’s stock.

Schnitzer Steel Industries stock traded up $0.26 during midday trading on Friday, hitting $50.27. 3,899 shares of the company’s stock were exchanged, compared to its average volume of 319,706. Schnitzer Steel Industries has a 52-week low of $19.35 and a 52-week high of $59.34. The stock has a 50-day moving average price of $47.14 and a two-hundred day moving average price of $48.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.11 and a current ratio of 1.97. The company has a market cap of $1.38 billion, a P/E ratio of 11.55 and a beta of 1.36.

Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc engages in the recycling of ferrous and nonferrous scrap metal and manufacture of finished steel products. It operates through the following segments: Auto and Metals Recycling (AMR) and Cascade Steel and Scrap (CSS). The AMR segment acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers and procure salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores.

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Earnings History and Estimates for Schnitzer Steel Industries (NASDAQ:SCHN)

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