Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have received a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $31.33.
A number of analysts recently weighed in on the company. Morgan Stanley lifted their price target on Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, January 2nd. ValuEngine upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Saturday, December 9th. Finally, BidaskClub upgraded Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd.
Schnitzer Steel Industries (SCHN) traded up $1.10 during trading on Wednesday, hitting $35.95. The company had a trading volume of 342,200 shares, compared to its average volume of 405,452. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 2.31. Schnitzer Steel Industries has a 12-month low of $17.50 and a 12-month high of $38.85. The stock has a market capitalization of $977.95, a P/E ratio of 15.77 and a beta of 1.40.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings results on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Schnitzer Steel Industries had a return on equity of 11.90% and a net margin of 3.50%. The firm had revenue of $483.00 million for the quarter, compared to the consensus estimate of $502.02 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was up 44.6% compared to the same quarter last year. research analysts expect that Schnitzer Steel Industries will post 2.67 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 12th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, February 9th. This represents a $0.75 annualized dividend and a yield of 2.09%. Schnitzer Steel Industries’s dividend payout ratio is presently 32.89%.
Hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in Schnitzer Steel Industries by 96.5% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,481 shares during the last quarter. Sei Investments Co. raised its holdings in Schnitzer Steel Industries by 325.7% during the third quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 4,759 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in Schnitzer Steel Industries during the third quarter worth $204,000. Tiedemann Wealth Management LLC acquired a new position in Schnitzer Steel Industries during the third quarter worth $223,000. Finally, BlueCrest Capital Management Ltd acquired a new position in Schnitzer Steel Industries during the second quarter worth $228,000. 85.78% of the stock is owned by hedge funds and other institutional investors.
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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.
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