KeyCorp Brokers Raise Earnings Estimates for Schnitzer Steel Industries, Inc. (SCHN)

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) – Research analysts at KeyCorp raised their FY2018 EPS estimates for shares of Schnitzer Steel Industries in a research report issued to clients and investors on Tuesday. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $2.12 per share for the year, up from their previous estimate of $2.00. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Schnitzer Steel Industries’ FY2019 earnings at $1.87 EPS.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $494.00 million for the quarter, compared to analysts’ expectations of $495.73 million. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The business’s revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS.

Several other equities analysts have also issued reports on SCHN. ValuEngine upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a report on Wednesday, August 16th. BidaskClub lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Macquarie assumed coverage on shares of Schnitzer Steel Industries in a report on Wednesday, September 6th. They set a “neutral” rating and a $26.00 target price for the company. Finally, Morgan Stanley lifted their target price on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $29.33.

Shares of Schnitzer Steel Industries (SCHN) opened at $29.50 on Friday. Schnitzer Steel Industries has a 12-month low of $17.50 and a 12-month high of $31.35. The firm has a market capitalization of $798.35, a P/E ratio of 18.86 and a beta of 1.36. The company has a current ratio of 1.92, a quick ratio of 0.97 and a debt-to-equity ratio of 0.27.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were issued a dividend of $0.1875 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.75 annualized dividend and a dividend yield of 2.54%. Schnitzer Steel Industries’s payout ratio is 47.47%.

In other news, SVP Peter B. Saba sold 2,393 shares of Schnitzer Steel Industries stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $26.52, for a total transaction of $63,462.36. Following the completion of the transaction, the senior vice president now directly owns 30,911 shares in the company, valued at $819,759.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffery Dyck sold 8,327 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $30.05, for a total transaction of $250,226.35. Following the completion of the transaction, the senior vice president now owns 49,184 shares of the company’s stock, valued at $1,477,979.20. The disclosure for this sale can be found here. Insiders have sold 22,770 shares of company stock valued at $654,919 over the last quarter. Company insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its holdings in Schnitzer Steel Industries by 325.7% in the 3rd quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock worth $175,000 after acquiring an additional 4,759 shares during the last quarter. Commonwealth Equity Services Inc purchased a new position in Schnitzer Steel Industries in the 3rd quarter worth approximately $204,000. Tiedemann Wealth Management LLC purchased a new position in Schnitzer Steel Industries in the 3rd quarter worth approximately $223,000. BlueCrest Capital Management Ltd purchased a new position in Schnitzer Steel Industries in the 2nd quarter worth approximately $228,000. Finally, Menta Capital LLC purchased a new position in Schnitzer Steel Industries in the 2nd quarter worth approximately $247,000. Institutional investors own 86.84% of the company’s stock.

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Schnitzer Steel Industries Company Profile

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.

Earnings History and Estimates for Schnitzer Steel Industries (NASDAQ:SCHN)

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