Schnitzer Steel Industries, Inc. Announces Quarterly Dividend of $0.19 (SCHN)
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced a quarterly dividend on Thursday, February 1st, RTT News reports. Shareholders of record on Monday, February 12th will be given a dividend of 0.1875 per share by the basic materials company on Monday, February 26th. This represents a $0.75 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, February 9th.
Shares of Schnitzer Steel Industries (SCHN) opened at $32.95 on Thursday. Schnitzer Steel Industries has a 52 week low of $17.50 and a 52 week high of $38.85. The company has a quick ratio of 1.04, a current ratio of 2.31 and a debt-to-equity ratio of 0.33. The stock has a market cap of $897.70, a P/E ratio of 15.07 and a beta of 1.40.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The firm had revenue of $483.00 million for the quarter, compared to analysts’ expectations of $502.02 million. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. The business’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. equities analysts anticipate that Schnitzer Steel Industries will post 2.67 earnings per share for the current fiscal year.
Several research firms have recently weighed in on SCHN. ValuEngine upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. KeyCorp restated a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Zacks Investment Research cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. BidaskClub upgraded shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Finally, Morgan Stanley raised their price objective on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $31.33.
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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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