Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) – Analysts at KeyCorp raised their Q1 2018 earnings per share estimates for Schnitzer Steel Industries in a report released on Monday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $0.63 for the quarter, up from their previous estimate of $0.52. KeyCorp has a “Hold” rating on the stock.

Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $483.00 million during the quarter, compared to analyst estimates of $502.02 million. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. ValuEngine lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub raised shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Morgan Stanley lifted their target price on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $31.33.

Shares of Schnitzer Steel Industries (NASDAQ SCHN) opened at $36.45 on Wednesday. The stock has a market cap of $991.56, a price-to-earnings ratio of 23.07 and a beta of 1.36. Schnitzer Steel Industries has a 52 week low of $17.50 and a 52 week high of $38.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.97 and a current ratio of 1.92.

In other news, SVP Jeffery Dyck sold 8,327 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $30.05, for a total transaction of $250,226.35. Following the transaction, the senior vice president now owns 49,184 shares in the company, valued at approximately $1,477,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Peter B. Saba sold 2,393 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $26.52, for a total transaction of $63,462.36. Following the transaction, the senior vice president now owns 30,911 shares in the company, valued at approximately $819,759.72. The disclosure for this sale can be found here. Insiders have sold a total of 22,770 shares of company stock worth $654,919 in the last 90 days. 3.50% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in SCHN. Wells Fargo & Company MN raised its holdings in Schnitzer Steel Industries by 395.2% in the 2nd quarter. Wells Fargo & Company MN now owns 577,820 shares of the basic materials company’s stock worth $14,561,000 after acquiring an additional 461,146 shares during the period. Koch Industries Inc. bought a new position in Schnitzer Steel Industries in the 2nd quarter worth $367,000. Rutabaga Capital Management LLC MA raised its holdings in Schnitzer Steel Industries by 69.4% in the 2nd quarter. Rutabaga Capital Management LLC MA now owns 891,536 shares of the basic materials company’s stock worth $22,467,000 after acquiring an additional 365,259 shares during the period. Hillcrest Asset Management LLC bought a new position in Schnitzer Steel Industries in the 3rd quarter worth $5,651,000. Finally, Telemark Asset Management LLC bought a new position in Schnitzer Steel Industries in the 3rd quarter worth $5,630,000. Institutional investors and hedge funds own 86.84% of the company’s stock.

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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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