Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have earned a consensus rating of “Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $33.25.
SCHN has been the topic of several recent research reports. Goldman Sachs initiated coverage on shares of Schnitzer Steel Industries in a research report on Tuesday, March 20th. They issued a “buy” rating and a $42.00 price target on the stock. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research report on Tuesday, January 2nd. BidaskClub raised shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Finally, ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Saturday, December 9th.
Several institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its position in shares of Schnitzer Steel Industries by 37.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 31,724 shares of the basic materials company’s stock worth $1,063,000 after buying an additional 8,695 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Schnitzer Steel Industries during the 4th quarter worth approximately $453,000. Millennium Management LLC increased its stake in shares of Schnitzer Steel Industries by 706.8% during the 4th quarter. Millennium Management LLC now owns 685,889 shares of the basic materials company’s stock worth $22,977,000 after purchasing an additional 600,873 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Schnitzer Steel Industries by 96.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,481 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Schnitzer Steel Industries by 7.8% during the 4th quarter. Teachers Advisors LLC now owns 649,774 shares of the basic materials company’s stock worth $21,767,000 after purchasing an additional 47,263 shares during the last quarter. 91.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SCHN stock traded down $0.20 on Thursday, reaching $32.50. 339,495 shares of the company were exchanged, compared to its average volume of 344,781. The stock has a market capitalization of $869.14, a PE ratio of 21.34 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.31 and a quick ratio of 1.04. Schnitzer Steel Industries has a one year low of $17.50 and a one year high of $38.85.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. The company had revenue of $483.00 million for the quarter, compared to analysts’ expectations of $502.02 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business’s revenue was up 44.6% on a year-over-year basis. analysts anticipate that Schnitzer Steel Industries will post 3.37 earnings per share for the current fiscal year.
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Schnitzer Steel Industries Company Profile
Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.
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