Schnitzer Steel Industries, Inc. (SCHN) Expected to Post Earnings of $0.59 Per Share
Brokerages expect Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) to report $0.59 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Schnitzer Steel Industries’ earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.57. Schnitzer Steel Industries posted earnings per share of $0.60 during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.7%. The firm is expected to announce its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Schnitzer Steel Industries will report full year earnings of $1.49 per share for the current fiscal year, with EPS estimates ranging from $1.47 to $1.51. For the next fiscal year, analysts forecast that the company will report earnings of $1.83 per share, with EPS estimates ranging from $1.80 to $1.85. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Schnitzer Steel Industries.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings data on Monday, June 26th. The basic materials company reported $0.56 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.56. Schnitzer Steel Industries had a return on equity of 8.34% and a net margin of 2.68%. The business had revenue of $477 million during the quarter. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up 35.5% compared to the same quarter last year.
SCHN has been the subject of several recent research reports. TheStreet upgraded Schnitzer Steel Industries from a “c+” rating to a “b” rating in a report on Friday, June 30th. Zacks Investment Research downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Macquarie initiated coverage on Schnitzer Steel Industries in a report on Wednesday. They issued a “neutral” rating and a $26.00 price target for the company. Finally, BidaskClub downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $27.50.
Institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC grew its stake in shares of Schnitzer Steel Industries by 10.6% during the first quarter. Teachers Advisors LLC now owns 477,498 shares of the basic materials company’s stock valued at $9,860,000 after acquiring an additional 45,664 shares in the last quarter. KBC Group NV grew its stake in shares of Schnitzer Steel Industries by 149.8% during the first quarter. KBC Group NV now owns 92,322 shares of the basic materials company’s stock valued at $1,906,000 after acquiring an additional 55,358 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Schnitzer Steel Industries during the first quarter valued at about $1,553,000. Janney Montgomery Scott LLC acquired a new stake in shares of Schnitzer Steel Industries during the second quarter valued at about $452,000. Finally, American Century Companies Inc. grew its stake in shares of Schnitzer Steel Industries by 3.5% during the first quarter. American Century Companies Inc. now owns 154,143 shares of the basic materials company’s stock valued at $3,183,000 after acquiring an additional 5,175 shares in the last quarter. Institutional investors own 82.37% of the company’s stock.
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Shares of Schnitzer Steel Industries (NASDAQ:SCHN) opened at 26.35 on Monday. Schnitzer Steel Industries has a 52 week low of $17.30 and a 52 week high of $30.60. The stock has a 50 day moving average price of $25.91 and a 200-day moving average price of $22.30. The firm has a market capitalization of $727.26 million, a PE ratio of 17.13 and a beta of 1.33.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were paid a dividend of $0.1875 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.75 annualized dividend and a dividend yield of 2.85%. Schnitzer Steel Industries’s dividend payout ratio is presently 49.02%.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.
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