Schnitzer Steel Industries - SCHN Stock Forecast, Price & News

Schnitzer Steel Industries, Inc. recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys. The company also procures salvaged vehicles and sells serviceable used auto parts from these vehicles through its 50 self-service auto parts stores in the United States and Western Canada, as well as sells auto bodies. In addition, it produces various finished steel products using ferrous recycled metal and other raw materials, as well as semi-finished goods, which include billets; and finished goods consisting of rebar, coiled rebar, wire rods, merchant bars, and other specialty products. Further, the company sells catalytic converters to specialty processors that extract the nonferrous precious metals, including platinum, palladium, and rhodium; ferrous and nonferrous recycled metal products to steel mills, foundries, refineries, smelters, wholesalers, and recycled metal processors; and finished steel customers are primarily steel service centers, construction industry subcontractors, steel fabricators, wire drawers, and major farm and wood products suppliers. Schnitzer Steel Industries, Inc. was founded in 1906 and is headquartered in Portland, Oregon.

Schnitzer Steel Industries Stock Performance

NASDAQ:SCHN traded up $0.88 during trading on Friday, hitting $37.33. The company's stock had a trading volume of 128,999 shares, compared to its average volume of 153,552. Schnitzer Steel Industries has a 52 week low of $29.79 and a 52 week high of $59.70. The firm has a market cap of $1.02 billion, a P/E ratio of 5.51 and a beta of 1.52. The firm has a 50 day moving average price of $35.05 and a 200 day moving average price of $41.75. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

Schnitzer Steel Industries (NASDAQ:SCHN - Get Rating) last announced its quarterly earnings data on Wednesday, June 29th. The basic materials company reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.29. Schnitzer Steel Industries had a return on equity of 24.41% and a net margin of 5.85%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $903.48 million. During the same quarter last year, the company earned $2.20 EPS. The company's quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts forecast that Schnitzer Steel Industries will post 6.43 earnings per share for the current fiscal year.

Schnitzer Steel Industries Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, July 8th. Investors of record on Monday, July 11th were given a dividend of $0.1875 per share. The ex-dividend date was Friday, July 8th. Schnitzer Steel Industries's dividend payout ratio (DPR) is 11.08%.

Analyst Ratings Changes

Several research firms recently weighed in on SCHN. KeyCorp boosted their target price on Schnitzer Steel Industries from $59.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, April 20th. StockNews.com lowered shares of Schnitzer Steel Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 27th. Finally, The Goldman Sachs Group cut their target price on shares of Schnitzer Steel Industries from $63.00 to $47.00 and set a "buy" rating for the company in a research report on Tuesday, May 31st.

Insiders Place Their Bets

In related news, Director Wayland R. Hicks bought 2,000 shares of the company's stock in a transaction on Wednesday, July 6th. The stock was bought at an average cost of $30.85 per share, with a total value of $61,700.00. Following the completion of the purchase, the director now owns 7,600 shares in the company, valued at approximately $234,460. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 6.20% of the company's stock.