Schnitzer Steel Industries (SCHN) Set to Announce Earnings on Thursday

Schnitzer Steel Industries (NASDAQ:SCHN) is scheduled to release its earnings data before the market opens on Thursday, October 21st. Analysts expect Schnitzer Steel Industries to post earnings of $1.79 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Shares of SCHN stock opened at $50.01 on Thursday. The company’s fifty day simple moving average is $47.14 and its 200-day simple moving average is $48.73. Schnitzer Steel Industries has a 52 week low of $19.35 and a 52 week high of $59.34. The company has a current ratio of 1.97, a quick ratio of 1.11 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.38 billion, a PE ratio of 11.55 and a beta of 1.36.

A number of research firms have recently issued reports on SCHN. Northland Securities started coverage on shares of Schnitzer Steel Industries in a research report on Monday, July 19th. They issued an “outperform” rating on the stock. Zacks Investment Research cut shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research note on Thursday, September 23rd. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Schnitzer Steel Industries presently has an average rating of “Buy” and a consensus price target of $42.67.

A hedge fund recently raised its stake in Schnitzer Steel Industries stock. Royal Bank of Canada lifted its position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 104.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,707 shares of the basic materials company’s stock after acquiring an additional 1,898 shares during the period. Royal Bank of Canada’s holdings in Schnitzer Steel Industries were worth $182,000 at the end of the most recent quarter. 81.51% of the stock is owned by institutional investors.

About Schnitzer Steel Industries

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 AMR 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 for Schnitzer Steel Industries (NASDAQ:SCHN)

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