Schnitzer Steel Industries, Inc. (SCHN) Receives $31.33 Average PT from Brokerages

Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have been given a consensus rating of “Buy” by the seven analysts that are covering the firm, 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 12-month target price among brokers that have covered the stock in the last year is $31.33.

Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday, October 20th. ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub raised shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Finally, Morgan Stanley increased their price objective 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.

Schnitzer Steel Industries (SCHN) traded up $1.10 during mid-day trading on Wednesday, reaching $35.95. 342,245 shares of the company traded hands, compared to its average volume of 332,647. The firm has a market capitalization of $948.02, a price-to-earnings ratio of 15.77 and a beta of 1.40. The company has a current ratio of 2.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Schnitzer Steel Industries has a 52 week low of $17.50 and a 52 week high of $38.85.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings results on Tuesday, January 9th. The basic materials company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $483.00 million for the quarter, compared to analyst estimates of $502.02 million. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. The firm’s revenue was up 44.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) earnings per share. research analysts predict that Schnitzer Steel Industries will post 2.67 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Shareholders of record on Monday, February 12th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, February 9th. Schnitzer Steel Industries’s payout ratio is 32.89%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC purchased a new position in Schnitzer Steel Industries during the fourth quarter valued at $453,000. Millennium Management LLC lifted its stake in shares of Schnitzer Steel Industries by 706.8% in the fourth quarter. Millennium Management LLC now owns 685,889 shares of the basic materials company’s stock worth $22,977,000 after buying an additional 600,873 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Schnitzer Steel Industries by 96.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,481 shares in the last quarter. Teachers Advisors LLC lifted its stake in shares of Schnitzer Steel Industries by 7.8% in the fourth quarter. Teachers Advisors LLC now owns 649,774 shares of the basic materials company’s stock worth $21,767,000 after buying an additional 47,263 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Schnitzer Steel Industries by 30.9% in the fourth quarter. Deutsche Bank AG now owns 449,629 shares of the basic materials company’s stock worth $15,060,000 after buying an additional 106,064 shares in the last quarter. 87.76% of the stock is currently owned by institutional investors and hedge funds.

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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.

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