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 Price Performance

Shares of Schnitzer Steel Industries stock opened at $35.91 on Thursday. The stock has a market capitalization of $985.62 million, a P/E ratio of 5.30 and a beta of 1.52. Schnitzer Steel Industries has a one year low of $29.79 and a one year high of $59.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 0.91. The business's 50 day simple moving average is $35.25 and its two-hundred day simple moving average is $41.77.

Schnitzer Steel Industries (NASDAQ:SCHN - Get Rating) last posted its quarterly earnings results on Wednesday, June 29th. The basic materials company reported $2.59 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.29. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $903.48 million. Schnitzer Steel Industries had a net margin of 5.85% and a return on equity of 24.41%. The firm's revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.20 EPS. Analysts forecast that Schnitzer Steel Industries will post 6.43 EPS for the current year.

Schnitzer Steel Industries Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Schnitzer Steel Industries

In related news, Director Wayland R. Hicks purchased 2,000 shares of the business's stock in a transaction that occurred on Wednesday, July 6th. The shares were acquired at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the completion of the acquisition, the director now directly owns 7,600 shares in the company, valued at approximately $234,460. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is currently owned by corporate insiders.