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.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCHN. The Goldman Sachs Group cut their price objective 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. StockNews.com cut shares of Schnitzer Steel Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 27th. Finally, KeyCorp upped their price objective on shares of Schnitzer Steel Industries from $59.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 20th.

Schnitzer Steel Industries Trading Up 1.5 %

SCHN opened at $36.45 on Friday. Schnitzer Steel Industries has a twelve month low of $29.79 and a twelve month high of $59.70. The company has a 50-day simple moving average of $35.13 and a 200 day simple moving average of $41.76. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 5.38 and a beta of 1.52.

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

Schnitzer Steel Industries Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, July 8th. Shareholders of record on Monday, July 11th were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Friday, July 8th. Schnitzer Steel Industries's payout ratio is 11.08%.

Insiders Place Their Bets

In other Schnitzer Steel Industries news, Director Wayland R. Hicks bought 2,000 shares of the stock in a transaction on Wednesday, July 6th. The stock was purchased at an average price 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 $234,460. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.20% of the company's stock.