Analysts Anticipate Schnitzer Steel Industries (SCHN) Will Post Earnings of $0.98 Per Share

Equities analysts expect that Schnitzer Steel Industries (NASDAQ:SCHN) will report $0.98 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for Schnitzer Steel Industries’ earnings. The lowest EPS estimate is $0.94 and the highest is $1.01. Schnitzer Steel Industries posted earnings of $0.56 per share during the same quarter last year, which would indicate a positive year over year growth rate of 75%. The firm is expected to issue its next earnings report on Monday, June 25th.

According to Zacks, analysts expect that Schnitzer Steel Industries will report full-year earnings of $3.38 per share for the current year, with EPS estimates ranging from $3.36 to $3.39. For the next year, analysts anticipate that the business will post earnings of $2.79 per share, with EPS estimates ranging from $2.70 to $2.88. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Schnitzer Steel Industries.

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Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Thursday, April 5th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.51. Schnitzer Steel Industries had a net margin of 4.68% and a return on equity of 14.28%. The business had revenue of $559.00 million during the quarter, compared to the consensus estimate of $507.82 million. During the same quarter last year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was up 46.3% compared to the same quarter last year.

A number of analysts recently issued reports on SCHN shares. ValuEngine upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Goldman Sachs started coverage on shares of Schnitzer Steel Industries in a report on Tuesday, March 20th. They set a “buy” rating and a $42.00 price objective for the company. BidaskClub downgraded shares of Schnitzer Steel Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, March 16th. Finally, Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Friday, March 30th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Schnitzer Steel Industries currently has an average rating of “Hold” and an average price target of $33.25.

NASDAQ SCHN opened at $32.10 on Monday. Schnitzer Steel Industries has a 52-week low of $17.80 and a 52-week high of $38.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.25. The stock has a market cap of $870.10, a P/E ratio of 20.98 and a beta of 1.41.

A number of hedge funds and other institutional investors have recently bought and sold shares of SCHN. Ladenburg Thalmann Financial Services Inc. boosted its position 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 period. Koch Industries Inc. boosted its position in Schnitzer Steel Industries by 27.3% during the fourth quarter. Koch Industries Inc. now owns 10,076 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 2,158 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Schnitzer Steel Industries by 2.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 93,449 shares of the basic materials company’s stock worth $3,131,000 after purchasing an additional 2,518 shares during the period. First Trust Advisors LP boosted its position in Schnitzer Steel Industries by 13.2% during the fourth quarter. First Trust Advisors LP now owns 24,320 shares of the basic materials company’s stock worth $815,000 after purchasing an additional 2,841 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its position in Schnitzer Steel Industries by 3.9% during the fourth quarter. Tocqueville Asset Management L.P. now owns 93,778 shares of the basic materials company’s stock worth $3,142,000 after purchasing an additional 3,559 shares during the period. Institutional investors and hedge funds own 91.90% of the company’s stock.

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Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers 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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Earnings History and Estimates for Schnitzer Steel Industries (NASDAQ:SCHN)

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