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

Schnitzer Steel Industries (NASDAQ:SCHN) posted its quarterly earnings results on Tuesday. The basic materials company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.52, MarketWatch Earnings reports. Schnitzer Steel Industries had a return on equity of 4.83% and a net margin of 0.94%. During the same quarter in the prior year, the business posted $0.31 earnings per share.

Shares of SCHN stock opened at $41.75 on Thursday. The company has a market capitalization of $1.13 billion, a PE ratio of 69.58 and a beta of 1.37. Schnitzer Steel Industries has a 52-week low of $12.93 and a 52-week high of $46.86. The business’s fifty day moving average is $39.96 and its 200 day moving average is $30.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.01 and a current ratio of 1.88.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Monday, April 19th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.80%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is currently 174.42%.

Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a report on Tuesday, March 9th. TheStreet upgraded Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Thursday, January 7th. Finally, KeyCorp increased their price objective on Schnitzer Steel Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, December 22nd.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates in 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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