Zacks: Analysts Anticipate Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Will Announce Earnings of $1.58 Per Share

Equities research analysts predict that Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) will post $1.58 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Schnitzer Steel Industries’ earnings. The lowest EPS estimate is $1.48 and the highest is $1.68. Schnitzer Steel Industries posted earnings per share of $0.23 in the same quarter last year, which would indicate a positive year-over-year growth rate of 587%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, October 21st.

On average, analysts expect that Schnitzer Steel Industries will report full year earnings of $5.82 per share for the current fiscal year, with EPS estimates ranging from $5.63 to $6.00. For the next financial year, analysts anticipate that the company will report earnings of $5.07 per share, with EPS estimates ranging from $4.25 to $5.88. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Schnitzer Steel Industries.

Several brokerages have recently commented on SCHN. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Thursday, September 23rd. Northland Securities started coverage on shares of Schnitzer Steel Industries in a report on Monday, July 19th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Schnitzer Steel Industries currently has a consensus rating of “Buy” and a consensus price target of $42.67.

A number of institutional investors have recently added to or reduced their stakes in SCHN. FORA Capital LLC acquired a new stake in Schnitzer Steel Industries during the 2nd quarter worth approximately $36,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Schnitzer Steel Industries in the 1st quarter valued at $49,000. US Bancorp DE raised its holdings in shares of Schnitzer Steel Industries by 284.3% in the 2nd quarter. US Bancorp DE now owns 1,322 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 978 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Schnitzer Steel Industries in the 1st quarter valued at $71,000. Finally, Royal Bank of Canada raised its holdings in shares of Schnitzer Steel Industries by 123.1% in the 1st quarter. Royal Bank of Canada now owns 1,809 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 998 shares in the last quarter. Institutional investors own 81.51% of the company’s stock.

Shares of Schnitzer Steel Industries stock traded up $0.26 during mid-day trading on Friday, hitting $50.27. The stock had a trading volume of 3,899 shares, compared to its average volume of 319,706. The firm has a 50-day moving average of $47.14 and a two-hundred day moving average of $48.73. Schnitzer Steel Industries has a 12-month low of $19.35 and a 12-month high of $59.34. The company has a quick ratio of 1.11, a current ratio of 1.97 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.38 billion, a P/E ratio of 11.55 and a beta of 1.36.

Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc engages in the recycling of ferrous and nonferrous scrap metal and manufacture of finished steel products. It operates through the following segments: Auto and Metals Recycling (AMR) and Cascade Steel and Scrap (CSS). The AMR segment acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers and procure salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores.

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Earnings History and Estimates for Schnitzer Steel Industries (NASDAQ:SCHN)

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