Schnitzer Steel (SCHN) closed in the last trading session at USD 54.51, which corresponds to a movement of + 1.36% compared to the previous day. That change fell short of the S&P 500’s daily gain of 1.49%.
To date, the proportion of ferrous and non-ferrous scrap recyclers has increased by 32.95% in the past month. At the same time, the basic materials sector gained 10.21%, while the S&P 500 lost 0.62%.
Investors are hoping for strength from SCHN as it nears its next earnings release. In this report, analysts expect SCHN to post earnings of USD 1.82 per share. This would mean a growth of 3540% compared to the previous year. Our latest consensus estimate is for quarterly revenue of $ 734.5 million, an increase of 82.4% over the same period last year.
Looking at the full year, our Zacks Consensus estimates expect analysts to expect earnings of $ 4.85 per share and revenue of $ 2.51 billion. These total figures would mean changes of + 1027.91% or + 46.31% compared to the previous year.
Investors might also notice the recent changes in analyst estimates for SCHN. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.
Our research shows that these changes in estimates correlate directly with short-term stock prices. To take advantage of this, we developed the Zacks Rank, a proprietary model that takes these estimation changes into account and provides an actionable rating system.
The Zacks rank system, which ranges from # 1 (strong buy) to # 5 (strong sell), has an impressive, externally verified track record of outperformance, with the # 1 stocks an average annual rate since 1988 Achieve a return of + 25% In the last 30 days, our EPS consensus forecast has stagnated. SCHN currently has a Zacks rank 2 (Buy).
In terms of valuation, SCHN currently has a forward P / E ratio of 11.09. This is a premium compared to the industry average Forward P / E of 8.49.
The steel making industry is part of the basic materials sector. This industry currently has a Zacks industry rank of 24, making it one of the top 10% of all over 250 industries.
The Zacks Industry Rank ranks best to worst in terms of the average Zacks rank of each company in each of these sectors. Our research shows that the industries with the top 50% outperform the bottom half by a factor of 2 to 1.
For more information on all of these metrics and more, visit Zacks.com.
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