Schnitzer Steel Industries (SCHN) Scheduled to Post Earnings on Tuesday

Posted by Defense World Staff on Jun 20th, 2023

Schnitzer Steel Industries (NASDAQ:SCHN – Get Rating) will post its quarterly earnings results before the market opens on Tuesday, June 27th. Analysts expect Schnitzer Steel Industries to post earnings of $0.71 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Schnitzer Steel Industries (NASDAQ:SCHN – Get Rating) last posted its quarterly earnings data on Wednesday, April 5th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $756.00 million during the quarter, compared to the consensus estimate of $722.55 million. Schnitzer Steel Industries had a net margin of 2.20% and a return on equity of 8.76%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 earnings per share. On average, analysts expect Schnitzer Steel Industries to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Schnitzer Steel Industries Price Performance

Shares of NASDAQ SCHN opened at $32.33 on Tuesday. The company has a fifty day moving average price of $29.89 and a 200 day moving average price of $31.43. Schnitzer Steel Industries has a 1-year low of $25.96 and a 1-year high of $37.67. The firm has a market cap of $887.46 million, a PE ratio of 13.53 and a beta of 1.53. The company has a current ratio of 1.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33.

Schnitzer Steel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 8th. Stockholders of record on Monday, April 24th were given a dividend of $0.1875 per share. The ex-dividend date was Friday, April 21st. This represents a $0.75 annualized dividend and a dividend yield of 2.32%. Schnitzer Steel Industries’s dividend payout ratio is currently 31.38%.

Analysts Set New Price Targets

Several equities research analysts have commented on SCHN shares. StockNews.com assumed coverage on Schnitzer Steel Industries in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. TheStreet upgraded shares of Schnitzer Steel Industries from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th.

Insiders Place Their Bets

In other Schnitzer Steel Industries news, SVP Michael R. Henderson sold 1,691 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $27.44, for a total value of $46,401.04. Following the completion of the sale, the senior vice president now owns 132,769 shares in the company, valued at $3,643,181.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Michael R. Henderson sold 1,691 shares of Schnitzer Steel Industries stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $27.44, for a total transaction of $46,401.04. Following the completion of the transaction, the senior vice president now directly owns 132,769 shares in the company, valued at approximately $3,643,181.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stefano R. Gaggini sold 1,026 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $28.43, for a total value of $29,169.18. Following the completion of the sale, the chief financial officer now owns 62,374 shares in the company, valued at approximately $1,773,292.82. The disclosure for this sale can be found here. Insiders have sold 2,874 shares of company stock valued at $80,046 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Schnitzer Steel Industries

A number of hedge funds have recently modified their holdings of the stock. Brinker Capital Investments LLC raised its holdings in Schnitzer Steel Industries by 1.6% in the 1st quarter. Brinker Capital Investments LLC now owns 19,665 shares of the basic materials company’s stock valued at $1,021,000 after acquiring an additional 311 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Schnitzer Steel Industries by 0.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,613 shares of the basic materials company’s stock worth $1,298,000 after purchasing an additional 320 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Schnitzer Steel Industries by 7.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,698 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 328 shares during the period. Legal & General Group Plc grew its holdings in Schnitzer Steel Industries by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 11,896 shares of the basic materials company’s stock valued at $390,000 after buying an additional 391 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Schnitzer Steel Industries by 123.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 849 shares of the basic materials company’s stock worth $26,000 after buying an additional 469 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

Schnitzer Steel Industries Company Profile

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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.