Schnitzer Steel Industries (NASDAQ:SCHN) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.59 -0.63 for the period, compared to the Thomson Reuters consensus estimate of $0.56.

A number of research firms have commented on SCHN. Morgan Stanley lifted their target price on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an equal weight rating in a report on Tuesday, October 31st. Macquarie began coverage on shares of Schnitzer Steel Industries in a report on Wednesday, September 6th. They set a neutral rating and a $26.00 target price for the company. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a buy rating to a hold rating in a report on Thursday, October 26th. ValuEngine raised shares of Schnitzer Steel Industries from a hold rating to a buy rating in a report on Saturday, December 9th. Finally, KeyCorp reaffirmed a hold rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $29.33.

Schnitzer Steel Industries (SCHN) opened at $33.20 on Thursday. Schnitzer Steel Industries has a fifty-two week low of $17.50 and a fifty-two week high of $33.60. The stock has a market cap of $823.36, a price-to-earnings ratio of 19.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.92 and a quick ratio of 0.97.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The company had revenue of $494.00 million during the quarter, compared to analyst estimates of $495.73 million. During the same quarter in the previous year, the business earned $0.60 EPS. The firm’s revenue was up 26.3% on a year-over-year basis. sell-side analysts expect that Schnitzer Steel Industries will post 2.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, November 10th. Schnitzer Steel Industries’s dividend payout ratio (DPR) is 47.17%.

In other news, SVP Peter B. Saba sold 2,393 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $26.52, for a total value of $63,462.36. Following the completion of the transaction, the senior vice president now owns 30,911 shares of the company’s stock, valued at approximately $819,759.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeffery Dyck sold 8,327 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $30.05, for a total transaction of $250,226.35. Following the completion of the transaction, the senior vice president now directly owns 49,184 shares of the company’s stock, valued at approximately $1,477,979.20. The disclosure for this sale can be found here. Insiders sold a total of 22,770 shares of company stock valued at $654,919 in the last three months. 3.80% of the stock is owned by company insiders.

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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.

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

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