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

Schnitzer Steel Industries (NASDAQ:SCHN) issued its earnings results on Wednesday. The basic materials company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.18), MarketWatch Earnings reports. Schnitzer Steel Industries had a return on equity of 23.38% and a net margin of 5.99%. The company had revenue of $798.00 million during the quarter, compared to analyst estimates of $857.06 million. During the same period in the previous year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 62.2% on a year-over-year basis.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 14th. Investors 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 yield of 1.63%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 13.35%.

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

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its position in Schnitzer Steel Industries by 12.2% in the 3rd quarter. Morgan Stanley now owns 187,777 shares of the basic materials company’s stock valued at $8,227,000 after buying an additional 20,442 shares during the last quarter. UBS Group AG boosted its position in Schnitzer Steel Industries by 4.6% in the 3rd quarter. UBS Group AG now owns 16,606 shares of the basic materials company’s stock valued at $728,000 after buying an additional 737 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Schnitzer Steel Industries by 3.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,614 shares of the basic materials company’s stock valued at $596,000 after buying an additional 480 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Schnitzer Steel Industries by 104.9% in 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 during the last quarter. Hedge funds and other institutional investors own 82.27% of the company’s stock.

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 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.

Further Reading: Producer Price Index (PPI)

Earnings History for Schnitzer Steel Industries (NASDAQ:SCHN)

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