Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has been given an average recommendation of “Hold” by the seven analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $22.33.
SCHN has been the subject of several recent research reports. TheStreet cut Schnitzer Steel Industries from a “b-” rating to a “c+” rating in a research note on Friday, October 18th. ValuEngine lowered Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Cowen cut their target price on Schnitzer Steel Industries from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Macquarie set a $23.00 target price on Schnitzer Steel Industries and gave the stock a “hold” rating in a research report on Friday, September 27th. Finally, BidaskClub lowered Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research report on Saturday, January 11th.
Schnitzer Steel Industries stock traded up $0.02 during midday trading on Thursday, reaching $20.81. The stock had a trading volume of 82,456 shares, compared to its average volume of 204,538. Schnitzer Steel Industries has a twelve month low of $18.68 and a twelve month high of $27.47. The stock has a market capitalization of $554.47 million, a PE ratio of 9.63 and a beta of 1.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 2.16. The stock’s 50-day simple moving average is $21.70 and its 200 day simple moving average is $22.63.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its earnings results on Wednesday, January 8th. The basic materials company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Schnitzer Steel Industries had a net margin of 1.68% and a return on equity of 5.56%. The business had revenue of $405.58 million during the quarter, compared to analysts’ expectations of $406.46 million. During the same period last year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was down 28.1% compared to the same quarter last year. Equities analysts predict that Schnitzer Steel Industries will post 0.93 earnings per share for the current fiscal year.
In other Schnitzer Steel Industries news, CFO Richard Peach sold 24,090 shares of Schnitzer Steel Industries stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $21.86, for a total value of $526,607.40. Following the transaction, the chief financial officer now directly owns 184,077 shares in the company, valued at approximately $4,023,923.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Peter B. Saba sold 9,333 shares of Schnitzer Steel Industries stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $22.14, for a total value of $206,632.62. Following the completion of the transaction, the senior vice president now owns 58,305 shares in the company, valued at $1,290,872.70. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of SCHN. Nuveen Asset Management LLC purchased a new stake in shares of Schnitzer Steel Industries in the second quarter valued at approximately $18,769,000. Bank of New York Mellon Corp boosted its position in Schnitzer Steel Industries by 22.0% during the second quarter. Bank of New York Mellon Corp now owns 1,027,817 shares of the basic materials company’s stock worth $26,898,000 after purchasing an additional 185,390 shares in the last quarter. Marshall Wace LLP boosted its position in Schnitzer Steel Industries by 5,111.8% during the second quarter. Marshall Wace LLP now owns 155,050 shares of the basic materials company’s stock worth $4,058,000 after purchasing an additional 152,075 shares in the last quarter. FMR LLC boosted its position in Schnitzer Steel Industries by 274,901.9% during the first quarter. FMR LLC now owns 143,001 shares of the basic materials company’s stock worth $3,432,000 after purchasing an additional 142,949 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new stake in Schnitzer Steel Industries during the second quarter worth $2,785,000. Hedge funds and other institutional investors own 88.47% of the company’s stock.
Schnitzer Steel Industries Company Profile
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates through two segments, Auto and Metals Recycling (AMR), and Cascade Steel and Scrap (CSS). The AMR segment acquires, processes, and recycles scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.
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