Schnitzer Steel Industries (NASDAQ:SCHN) Issues Q2 2022 Earnings Guidance

Schnitzer Steel Industries (NASDAQ:SCHNGet Rating) updated its second quarter 2022 earnings guidance on Thursday. The company provided EPS guidance of $1.330-$1.380 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.470. The company issued revenue guidance of -.

A number of analysts recently weighed in on the stock. StockNews.com started coverage on shares of Schnitzer Steel Industries in a research note on Thursday, March 31st. They set a hold rating on the stock. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a hold rating to a strong-buy rating and set a $60.00 price target on the stock in a research note on Tuesday. Finally, KeyCorp increased their price target on shares of Schnitzer Steel Industries from $58.00 to $59.00 and gave the company an overweight rating in a research note on Friday, April 8th.

SCHN stock opened at $54.32 on Thursday. The company has a market capitalization of $1.51 billion, a P/E ratio of 8.49 and a beta of 1.49. Schnitzer Steel Industries has a twelve month low of $35.34 and a twelve month high of $59.34. The business has a 50 day simple moving average of $47.49 and a 200-day simple moving average of $47.75. The company has a current ratio of 2.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.28.

Schnitzer Steel Industries (NASDAQ:SCHNGet Rating) last posted its quarterly earnings data on Wednesday, April 6th. The basic materials company reported $1.38 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.38. The business had revenue of $783.20 million during the quarter, compared to the consensus estimate of $779.39 million. Schnitzer Steel Industries had a return on equity of 24.20% and a net margin of 5.86%. The company’s revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 earnings per share. Research analysts predict that Schnitzer Steel Industries will post 7.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Stockholders of record on Monday, April 18th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Thursday, April 14th. Schnitzer Steel Industries’s payout ratio is currently 11.72%.

Several hedge funds and other institutional investors have recently modified their holdings of SCHN. Royal Bank of Canada lifted its holdings in shares of Schnitzer Steel Industries by 104.9% during the second 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 period. Morgan Stanley lifted its holdings in Schnitzer Steel Industries by 12.2% in the third quarter. Morgan Stanley now owns 187,777 shares of the basic materials company’s stock valued at $8,227,000 after acquiring an additional 20,442 shares during the period. UBS Group AG lifted its holdings in 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 valued at $728,000 after acquiring an additional 737 shares during the period. BNP Paribas Arbitrage SA increased its position 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 valued at $596,000 after buying an additional 480 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Schnitzer Steel Industries by 27.3% in the fourth quarter. Bank of America Corp DE now owns 26,494 shares of the basic materials company’s stock valued at $1,376,000 after buying an additional 5,677 shares in the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

Schnitzer Steel Industries Company Profile (Get Rating)

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.

Read More

Receive News & Ratings for Schnitzer Steel Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries and related companies with MarketBeat.com's FREE daily email newsletter.