Schnitzer Steel Industries (NASDAQ:SCHN) Issues Earnings Results, Misses Expectations By $0.18 EPS

Schnitzer Steel Industries (NASDAQ:SCHN) posted its quarterly earnings data on Wednesday. The basic materials company reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.18), MarketWatch Earnings reports. The firm had revenue of $798.00 million during the quarter, compared to analysts’ expectations of $857.06 million. Schnitzer Steel Industries had a return on equity of 23.38% and a net margin of 5.99%. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share.

NASDAQ SCHN opened at $46.10 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.81 and a current ratio of 1.54. The firm’s 50 day moving average price is $51.59 and its 200-day moving average price is $49.61. Schnitzer Steel Industries has a 52-week low of $27.72 and a 52-week high of $59.34. The company has a market cap of $1.27 billion, a PE ratio of 8.20 and a beta of 1.50.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 14th. Stockholders of record on Monday, January 31st will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.63%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 13.35%.

Separately, Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 24th.

In related news, SVP Michael R. Henderson sold 7,721 shares of the company’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $52.11, for a total value of $402,341.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stefano R. Gaggini sold 4,577 shares of the business’s stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $51.34, for a total value of $234,983.18. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its stake in shares of Schnitzer Steel Industries by 3.7% in the third quarter. BNP Paribas Arbitrage SA now owns 13,614 shares of the basic materials company’s stock worth $596,000 after acquiring an additional 480 shares during the last quarter. UBS Group AG boosted its stake in shares of Schnitzer Steel Industries by 4.6% in the third quarter. UBS Group AG now owns 16,606 shares of the basic materials company’s stock worth $728,000 after acquiring an additional 737 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Schnitzer Steel Industries by 104.9% in the second quarter. Royal Bank of Canada now owns 3,707 shares of the basic materials company’s stock worth $182,000 after acquiring an additional 1,898 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Schnitzer Steel Industries by 12.2% in the third quarter. Morgan Stanley now owns 187,777 shares of the basic materials company’s stock worth $8,227,000 after acquiring an additional 20,442 shares during the last quarter. 82.27% of the stock is currently owned by institutional investors.

About Schnitzer Steel Industries

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 Auto and Metals Recycling 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 for Schnitzer Steel Industries (NASDAQ:SCHN)

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