Schnitzer Steel Industries (NASDAQ:SCHN) Releases Quarterly Earnings Results, Beats Estimates By $0.52 EPS

Schnitzer Steel Industries (NASDAQ:SCHN) announced its quarterly earnings results on Wednesday. The basic materials company reported $1.51 EPS for the quarter, beating the Zacks’ 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 period in the previous year, the business posted $0.31 earnings per share.

Shares of NASDAQ SCHN opened at $41.75 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.13 billion, a PE ratio of 69.58 and a beta of 1.37. The firm has a fifty day simple moving average of $39.96 and a 200 day simple moving average of $30.13. Schnitzer Steel Industries has a twelve month low of $12.93 and a twelve month high of $46.86.

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

SCHN has been the subject of a number of recent research reports. KeyCorp upped their target price on Schnitzer Steel Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, December 22nd. TheStreet upgraded shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Thursday, January 7th. Finally, Zacks Investment Research upgraded 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.

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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