Schnitzer Steel Industries (NASDAQ:SCHN) Announces Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Schnitzer Steel Industries (NASDAQ:SCHN) released its quarterly earnings results on Wednesday. The basic materials company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.18, MarketWatch Earnings reports. Schnitzer Steel Industries had a return on equity of 2.51% and a net margin of 0.19%. The company had revenue of $402.68 million during the quarter, compared to analysts’ expectations of $368.60 million. During the same period in the previous year, the firm posted $0.63 earnings per share.

Schnitzer Steel Industries stock opened at $16.85 on Friday. The firm has a market capitalization of $472.61 million, a P/E ratio of 153.20 and a beta of 1.38. The stock has a fifty day moving average price of $16.24 and a 200 day moving average price of $16.73. Schnitzer Steel Industries has a 52 week low of $10.09 and a 52 week high of $27.47. The company has a current ratio of 2.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.36.

A number of research firms have recently weighed in on SCHN. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Wednesday, June 24th. BidaskClub raised Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Schnitzer Steel Industries has an average rating of “Hold” and a consensus price target of $22.00.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates through 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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Earnings History for Schnitzer Steel Industries (NASDAQ:SCHN)

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