Schnitzer Steel Industries, Inc. to Issue Quarterly Dividend of $0.19 (NASDAQ:SCHN)

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) declared a quarterly dividend on Wednesday, April 7th, RTT News reports. Shareholders of record on Monday, April 19th will be given a dividend of 0.1875 per share by the basic materials company on Monday, May 3rd. This represents a $0.75 dividend on an annualized basis and a yield of 1.80%.

Schnitzer Steel Industries stock opened at $41.75 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $39.96 and a two-hundred day moving average price of $30.13. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 69.58 and a beta of 1.37. Schnitzer Steel Industries has a 52-week low of $12.93 and a 52-week high of $46.86.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its earnings results on Tuesday, April 6th. The basic materials company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.52. Schnitzer Steel Industries had a net margin of 0.94% and a return on equity of 4.83%. During the same quarter last year, the business posted $0.31 earnings per share. Research analysts expect that Schnitzer Steel Industries will post 2.33 earnings per share for the current year.

A number of analysts have recently weighed in on SCHN shares. KeyCorp upped their price target on shares of Schnitzer Steel Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 22nd. TheStreet raised shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research note on Thursday, January 7th. Finally, Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a research note on Tuesday, March 9th.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates in 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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