Analysts Set Schnitzer Steel Industries, Inc. (SCHN) Price Target at $27.50
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $27.50.
SCHN has been the subject of a number of research analyst reports. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research note on Wednesday, August 16th. BidaskClub cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Macquarie initiated coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They set a “neutral” rating and a $26.00 price objective for the company. ValuEngine cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th.
In related news, VP Stefano R. Gaggini sold 1,074 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $28.97, for a total transaction of $31,113.78. Following the completion of the transaction, the vice president now directly owns 16,480 shares of the company’s stock, valued at $477,425.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Peter B. Saba sold 2,393 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $26.52, for a total value of $63,462.36. Following the transaction, the senior vice president now directly owns 30,911 shares of the company’s stock, valued at $819,759.72. The disclosure for this sale can be found here. Insiders have sold 22,770 shares of company stock valued at $654,919 over the last ninety days. 3.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SCHN. Sei Investments Co. boosted its position in Schnitzer Steel Industries by 325.7% during the third quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 4,759 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in Schnitzer Steel Industries during the third quarter valued at approximately $204,000. Tiedemann Wealth Management LLC acquired a new position in Schnitzer Steel Industries during the third quarter valued at approximately $223,000. BlueCrest Capital Management Ltd acquired a new position in Schnitzer Steel Industries during the second quarter valued at approximately $228,000. Finally, Menta Capital LLC acquired a new position in Schnitzer Steel Industries during the second quarter valued at approximately $247,000. 86.84% of the stock is owned by hedge funds and other institutional investors.
Schnitzer Steel Industries (SCHN) traded up $0.80 during trading hours on Friday, reaching $29.40. The company’s stock had a trading volume of 223,705 shares, compared to its average volume of 419,567. Schnitzer Steel Industries has a 1 year low of $17.50 and a 1 year high of $31.35. The company has a current ratio of 1.92, a quick ratio of 0.97 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $773.97, a PE ratio of 18.69 and a beta of 1.36.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The firm had revenue of $494.00 million during the quarter, compared to analysts’ expectations of $495.73 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 26.3% on a year-over-year basis. equities analysts expect that Schnitzer Steel Industries will post 2.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were given a dividend of $0.1875 per share. The ex-dividend date was Friday, November 10th. This represents a $0.75 annualized dividend and a dividend yield of 2.55%. Schnitzer Steel Industries’s dividend payout ratio is currently 47.17%.
About Schnitzer Steel Industries
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.
Receive News & Ratings for Schnitzer Steel Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.