Schnitzer Steel Industries , which manufactures finished steel products, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SCHN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Schnitzer Steelcould be a solid choice for investors.
Current Quarter Estimates for SCHN
In the past 30 days, one estimate has gone higher for Schnitzer Steel while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 59 cents a share 30 days ago, to 61 cents today, a move of 3.4%.
Current Year Estimates for SCHN
Meanwhile, Schnitzer Steel’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.49 per share 30 days ago to $1.51 per share today, an increase of 1.3%.
Bottom Line
The stock has also started to move higher lately, adding 5.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
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Surging Earnings Estimates Signal Good News for Schnitzer Steel (SCHN)
Schnitzer Steel Industries , which manufactures finished steel products, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SCHN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Schnitzer Steelcould be a solid choice for investors.
Current Quarter Estimates for SCHN
In the past 30 days, one estimate has gone higher for Schnitzer Steel while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 59 cents a share 30 days ago, to 61 cents today, a move of 3.4%.
Current Year Estimates for SCHN
Meanwhile, Schnitzer Steel’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.49 per share 30 days ago to $1.51 per share today, an increase of 1.3%.
Schnitzer Steel Industries, Inc. Price and Consensus
Schnitzer Steel Industries, Inc. Price and Consensus | Schnitzer Steel Industries, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 5.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
4 Promising Stock Picks to Keep an Eye On
With news stories about computer hacking and identity theft becoming increasingly commonplace, the cybersecurity industry looks like a promising investment opportunity. But which stocks should you buy? Zacks just released Cybersecurity: An Investor’s Guide to Locking Down Profits to help answer this question.
This new Special Report gives you the information you need to make well-informed investment choices in this space. More importantly, it also highlights 4 cybersecurity picks with strong profit potential.
Get the new Investing Guide now>>