Schnitzer Steel Industries (NASDAQ:SCHN) Announces Quarterly Earnings Results

Schnitzer Steel Industries (NASDAQ:SCHN) issued its quarterly earnings results on Wednesday, June 26th. The basic materials company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02, RTT News reports. The firm had revenue of $547.00 million for the quarter, compared to analyst estimates of $542.24 million. Schnitzer Steel Industries had a net margin of 4.63% and a return on equity of 15.72%. The business’s revenue for the quarter was down 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 EPS.

Shares of NASDAQ:SCHN traded up $0.14 on Thursday, hitting $25.01. The company had a trading volume of 105,749 shares, compared to its average volume of 254,855. Schnitzer Steel Industries has a 1 year low of $20.94 and a 1 year high of $35.60. The company has a market cap of $670.79 million, a price-to-earnings ratio of 4.64 and a beta of 1.43. The stock’s 50-day moving average is $23.93. The company has a quick ratio of 1.22, a current ratio of 2.36 and a debt-to-equity ratio of 0.20.

In related news, SVP Jeffery Dyck sold 5,337 shares of Schnitzer Steel Industries stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $23.94, for a total transaction of $127,767.78. Following the completion of the transaction, the senior vice president now directly owns 64,063 shares of the company’s stock, valued at approximately $1,533,668.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.

Several research firms recently commented on SCHN. Zacks Investment Research reaffirmed a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. Cowen reaffirmed a “buy” rating and set a $50.00 target price on shares of Tricida in a report on Tuesday, June 25th. ValuEngine lowered shares of TheStreet from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Schnitzer Steel Industries has an average rating of “Hold” and an average price target of $27.40.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates through two segments, Auto and Metals Recycling (AMR), and Cascade Steel and Scrap (CSS). The AMR segment acquires, processes, and recycles scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.

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Earnings History for Schnitzer Steel Industries (NASDAQ:SCHN)

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