Schnitzer Steel Industries (NASDAQ:SCHN) released its quarterly earnings data on Thursday. The basic materials company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.18), MarketWatch Earnings reports. The company had revenue of $798.00 million for the quarter, compared to analyst estimates of $857.06 million. Schnitzer Steel Industries had a net margin of 5.99% and a return on equity of 23.38%. The firm’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share.
NASDAQ:SCHN opened at $46.10 on Friday. The stock’s fifty day moving average price is $51.59 and its two-hundred 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 debt-to-equity ratio of 0.08, a quick ratio of 0.81 and a current ratio of 1.54. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 8.20 and a beta of 1.50.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 14th. Shareholders of record on Monday, January 31st will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.63%. Schnitzer Steel Industries’s dividend payout ratio is 13.35%.
Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in Schnitzer Steel Industries by 104.9% during the 2nd quarter. Royal Bank of Canada now owns 3,707 shares of the basic materials company’s stock worth $182,000 after purchasing an additional 1,898 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Schnitzer Steel Industries by 3.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,614 shares of the basic materials company’s stock worth $596,000 after purchasing an additional 480 shares in the last quarter. UBS Group AG increased its holdings in Schnitzer Steel Industries by 4.6% during the 3rd quarter. UBS Group AG now owns 16,606 shares of the basic materials company’s stock worth $728,000 after purchasing an additional 737 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Schnitzer Steel Industries by 12.2% during the 3rd quarter. Morgan Stanley now owns 187,777 shares of the basic materials company’s stock worth $8,227,000 after purchasing an additional 20,442 shares in the last quarter. Hedge funds and other institutional investors own 82.27% of the company’s stock.
Separately, Zacks Investment Research downgraded Schnitzer Steel Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, December 24th.
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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