Schnitzer Steel Industries to Post Q3 2018 Earnings of $1.05 Per Share, KeyCorp Forecasts (SCHN)

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Schnitzer Steel Industries (NASDAQ:SCHN) – KeyCorp increased their Q3 2018 earnings estimates for shares of Schnitzer Steel Industries in a research report issued on Wednesday, June 13th. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $1.05 per share for the quarter, up from their prior forecast of $1.01. KeyCorp also issued estimates for Schnitzer Steel Industries’ FY2018 earnings at $3.60 EPS and FY2019 earnings at $2.80 EPS.

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

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Saturday. BidaskClub raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, ValuEngine downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 26th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.50.

Schnitzer Steel Industries opened at $34.75 on Monday, MarketBeat reports. The company has a market cap of $970.40 million, a price-to-earnings ratio of 22.71 and a beta of 1.46. Schnitzer Steel Industries has a one year low of $19.25 and a one year high of $38.85. The company has a current ratio of 2.42, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36.

Several institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Schnitzer Steel Industries in the first quarter worth approximately $1,032,000. Allianz Asset Management GmbH grew its holdings in shares of Schnitzer Steel Industries by 109.0% in the first quarter. Allianz Asset Management GmbH now owns 20,052 shares of the basic materials company’s stock worth $649,000 after purchasing an additional 10,458 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Schnitzer Steel Industries by 44.3% in the first quarter. Legal & General Group Plc now owns 8,980 shares of the basic materials company’s stock worth $291,000 after purchasing an additional 2,755 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Schnitzer Steel Industries in the first quarter worth approximately $705,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Schnitzer Steel Industries by 62.4% in the first quarter. Cubist Systematic Strategies LLC now owns 15,338 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 5,895 shares during the last quarter. Hedge funds and other institutional investors own 89.57% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 29th. Stockholders of record on Monday, May 14th were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, May 11th. Schnitzer Steel Industries’s dividend payout ratio is 49.02%.

About Schnitzer Steel Industries

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.

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

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