Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Expected to Post Earnings of $2.32 Per Share

Equities analysts expect that Schnitzer Steel Industries, Inc. (NASDAQ:SCHNGet Rating) will report earnings of $2.32 per share for the current quarter, according to Zacks. Two analysts have made estimates for Schnitzer Steel Industries’ earnings, with the lowest EPS estimate coming in at $2.23 and the highest estimate coming in at $2.41. Schnitzer Steel Industries posted earnings of $2.20 per share during the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Schnitzer Steel Industries will report full year earnings of $7.53 per share for the current year, with EPS estimates ranging from $7.01 to $8.05. For the next fiscal year, analysts anticipate that the firm will report earnings of $6.45 per share, with EPS estimates ranging from $5.40 to $7.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Schnitzer Steel Industries.

Schnitzer Steel Industries (NASDAQ:SCHNGet Rating) last released its quarterly earnings data on Wednesday, April 6th. The basic materials company reported $1.38 earnings per share for the quarter, hitting the consensus estimate of $1.38. Schnitzer Steel Industries had a net margin of 5.86% and a return on equity of 24.20%. The business had revenue of $783.20 million for the quarter, compared to analyst estimates of $779.39 million. During the same quarter last year, the firm earned $1.51 EPS. Schnitzer Steel Industries’s quarterly revenue was up 30.5% compared to the same quarter last year.

SCHN has been the topic of several recent analyst reports. KeyCorp lifted their price objective on shares of Schnitzer Steel Industries from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. StockNews.com began coverage on shares of Schnitzer Steel Industries in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research raised 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, April 12th.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cutler Group LP raised its holdings in shares of Schnitzer Steel Industries by 130.1% in the fourth quarter. Cutler Group LP now owns 517 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,233 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in shares of Schnitzer Steel Industries in the fourth quarter valued at approximately $37,000. Marshall Wace LLP acquired a new stake in shares of Schnitzer Steel Industries in the first quarter valued at approximately $71,000. Islay Capital Management LLC raised its holdings in shares of Schnitzer Steel Industries by 35.8% in the fourth quarter. Islay Capital Management LLC now owns 3,421 shares of the basic materials company’s stock valued at $178,000 after purchasing an additional 902 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Schnitzer Steel Industries by 104.9% in the second quarter. Royal Bank of Canada now owns 3,707 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 1,898 shares during the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

Schnitzer Steel Industries stock opened at $45.63 on Thursday. The company’s 50 day simple moving average is $50.16 and its 200 day simple moving average is $48.53. Schnitzer Steel Industries has a fifty-two week low of $35.34 and a fifty-two week high of $59.70. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.02.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 2nd. Shareholders of record on Monday, April 18th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, April 14th. Schnitzer Steel Industries’s payout ratio is currently 11.72%.

About Schnitzer Steel Industries (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.

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