12. RESPONSIBLE CONSUMPTION AND PRODUCTION

Schnitzer Steel Industries, Inc. Forecasted to Earn FY2022 Earnings of $5.15 Per Share (NASDAQ:SCHN) – MarketBeat

Schnitzer Steel Industries, Inc. Forecasted to Earn FY2022 Earnings of $5.15 Per Share (NASDAQ:SCHN)  MarketBeat

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) – Investment analysts at KeyCorp boosted their FY2022 EPS estimates for Schnitzer Steel Industries in a report issued on Monday, November 22nd. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $5.15 per share for the year, up from their previous estimate of $4.35.

Separately, Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Wednesday, November 17th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.00.

NASDAQ:SCHN opened at $54.52 on Thursday. The business’s 50-day moving average price is $48.60. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 9.70 and a beta of 1.50. Schnitzer Steel Industries has a 52-week low of $25.09 and a 52-week high of $59.34. The company has a current ratio of 1.54, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08. Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Thursday, October 21st. The basic materials company reported $1.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.10. Schnitzer Steel Industries had a return on equity of 23.38% and a net margin of 5.99%. During the same period last year, the firm earned $0.23 EPS.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 22nd. Shareholders of record on Monday, November 8th were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, November 5th. Schnitzer Steel Industries’s dividend payout ratio is currently 13.35%.

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In other Schnitzer Steel Industries news, SVP Michael R. Henderson sold 7,721 shares of the business’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $52.11, for a total value of $402,341.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Stefano R. Gaggini sold 4,577 shares of the business’s stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $51.34, for a total value of $234,983.18. The disclosure for this sale can be found here. Insiders own 5.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. NEXT Financial Group Inc acquired a new position in Schnitzer Steel Industries during the third quarter valued at approximately $27,000. FORA Capital LLC bought a new position in shares of Schnitzer Steel Industries during the second quarter worth approximately $36,000. US Bancorp DE increased its stake in shares of Schnitzer Steel Industries by 284.3% during the second quarter. US Bancorp DE now owns 1,322 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 978 shares during the period. Royal Bank of Canada increased its stake in Schnitzer Steel Industries by 123.1% during the 1st quarter. Royal Bank of Canada now owns 1,809 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 998 shares during the period. Finally, Islay Capital Management LLC bought a new position in Schnitzer Steel Industries during the 3rd quarter worth $110,000. 82.27% of the stock is owned by institutional investors.

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 Auto and Metals Recycling 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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