Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced a quarterly dividend on Friday, July 31st, RTT News reports. Shareholders of record on Monday, August 10th will be given a dividend of 0.1875 per share by the basic materials company on Monday, August 24th. This represents a $0.75 annualized dividend and a yield of 4.08%.
Schnitzer Steel Industries has a dividend payout ratio of -416.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Schnitzer Steel Industries to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 77.3%.
NASDAQ SCHN opened at $18.40 on Friday. Schnitzer Steel Industries has a 52 week low of $10.09 and a 52 week high of $27.47. The stock has a market capitalization of $499.43 million, a price-to-earnings ratio of 30.21 and a beta of 1.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.98 and a current ratio of 3.95. The stock’s 50 day moving average price is $17.22 and its two-hundred day moving average price is $16.08.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Wednesday, July 1st. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.18. Schnitzer Steel Industries had a return on equity of 2.52% and a net margin of 0.19%. The company had revenue of $402.68 million for the quarter, compared to analysts’ expectations of $368.60 million. During the same quarter in the prior year, the business posted $0.63 EPS. On average, equities research analysts forecast that Schnitzer Steel Industries will post 0.34 EPS for the current year.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, June 24th. BidaskClub upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Schnitzer Steel Industries presently has a consensus rating of “Hold” and a consensus target price of $22.00.
Schnitzer Steel Industries Company Profile
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates through two segments, Auto and Metals Recycling (AMR), and Cascade Steel and Scrap (CSS). The AMR segment acquires, processes, and recycles scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.
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