Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced a quarterly dividend on Thursday, October 22nd, RTT News reports. Shareholders of record on Monday, November 2nd will be given a dividend of 0.1875 per share by the basic materials company on Monday, November 16th. This represents a $0.75 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Friday, October 30th.
Schnitzer Steel Industries has a payout ratio of 234.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Schnitzer Steel Industries to earn $1.23 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 61.0%.
NASDAQ SCHN opened at $19.81 on Thursday. The company has a 50-day simple moving average of $20.42 and a two-hundred day simple moving average of $17.87. The company has a quick ratio of 2.98, a current ratio of 3.95 and a debt-to-equity ratio of 0.63. Schnitzer Steel Industries has a 12-month low of $10.09 and a 12-month high of $22.97. The firm has a market cap of $536.83 million, a price-to-earnings ratio of 180.11 and a beta of 1.42.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.10. Schnitzer Steel Industries had a net margin of 0.19% and a return on equity of 2.52%. During the same quarter last year, the business earned $0.42 earnings per share. Equities analysts expect that Schnitzer Steel Industries will post 0.32 earnings per share for the current fiscal year.
Separately, BidaskClub upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 8th.
Schnitzer Steel Industries Company Profile
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates in 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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