Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) to Post Q3 2022 Earnings of $1.20 Per Share, KeyCorp Forecasts

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) – Equities research analysts at KeyCorp issued their Q3 2022 earnings per share estimates for shares of Schnitzer Steel Industries in a report issued on Tuesday, January 11th. KeyCorp analyst P. Gibbs forecasts that the basic materials company will post earnings of $1.20 per share for the quarter. KeyCorp also issued estimates for Schnitzer Steel Industries’ Q4 2022 earnings at $0.71 EPS, FY2022 earnings at $4.85 EPS and FY2023 earnings at $2.95 EPS.

Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings data on Thursday, January 6th. The basic materials company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.18). Schnitzer Steel Industries had a net margin of 6.44% and a return on equity of 25.82%. The firm had revenue of $798.00 million during the quarter, compared to analyst estimates of $857.06 million. During the same period in the prior year, the company earned $0.57 earnings per share. The business’s quarterly revenue was up 62.2% compared to the same quarter last year.

Separately, Zacks Investment Research lowered Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Wednesday.

SCHN opened at $42.73 on Friday. The firm has a market cap of $1.18 billion, a P/E ratio of 6.41 and a beta of 1.50. Schnitzer Steel Industries has a 52-week low of $27.72 and a 52-week high of $59.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.03 and a current ratio of 1.93. The business’s fifty day moving average is $50.71 and its 200-day moving average is $49.40.

Several large investors have recently added to or reduced their stakes in SCHN. NEXT Financial Group Inc purchased a new position in shares of Schnitzer Steel Industries in the 3rd quarter worth about $27,000. Koshinski Asset Management Inc. bought a new stake in shares of Schnitzer Steel Industries in the 4th quarter valued at about $37,000. FORA Capital LLC bought a new stake in shares of Schnitzer Steel Industries in the 2nd quarter valued at about $36,000. US Bancorp DE lifted its stake in shares of Schnitzer Steel Industries by 284.3% in the 2nd quarter. US Bancorp DE now owns 1,322 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 978 shares during the last quarter. Finally, Islay Capital Management LLC bought a new stake in shares of Schnitzer Steel Industries in the 3rd quarter valued at about $110,000. Institutional investors own 84.06% of the company’s stock.

In related news, CFO Stefano R. Gaggini sold 4,577 shares of Schnitzer Steel Industries stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $51.34, for a total transaction of $234,983.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael R. Henderson sold 7,721 shares of the business’s stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $52.11, for a total value of $402,341.31. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 14th. Shareholders of record on Monday, January 31st will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, January 28th. This represents a $0.75 annualized dividend and a yield of 1.76%. Schnitzer Steel Industries’s dividend payout ratio is presently 11.24%.

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 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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