Schnitzer Steel Industries Inc. (SCHN) Trading 2% Higher
Shares of Schnitzer Steel Industries Inc. (NASDAQ:SCHN) traded up 2% during mid-day trading on Thursday . The company traded as high as $18.98 and last traded at $18.90, with a volume of 92,822 shares. The stock had previously closed at $18.53.
Separately, Zacks Investment Research downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Five equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $19.25.
The firm has a 50-day moving average price of $19.14 and a 200-day moving average price of $17.64. The company’s market capitalization is $514.94 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Thursday, June 30th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.28. The company had revenue of $352 million for the quarter. The company’s quarterly revenue was down 24.6% on a year-over-year basis. Equities analysts expect that Schnitzer Steel Industries Inc. will post $0.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 8th were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Thursday, August 4th.
In related news, insider Jeffery Dyck sold 9,205 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $17.61, for a total transaction of $162,100.05. Following the sale, the insider now owns 38,265 shares of the company’s stock, valued at $673,846.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Schnitzer Steel Industries, Inc (SSI) is a recycler of ferrous and nonferrous scrap metal. The Company is recycler of used and salvaged vehicles and a manufacturer of finished steel products. The Company operates in three business segments: the Metals Recycling Business (MRB), the Auto Parts Business (APB) and the Steel Manufacturing Business (SMB).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.