Schnitzer Steel closed the most recent trading day at $23.32, moving -1.69% from the previous trading session. This change lagged the S&P 500's daily loss of 0.75%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 0.57%.
Coming into today, shares of the recycler of ferrous and nonferrous scrap metal had lost 3.46% in the past month. In that same time, the Basic Materials sector gained 1.21%, while the S&P 500 gained 4%.
SCHN will be looking to display strength as it nears its next earnings release. On that day, SCHN is projected to report earnings of $0.59 per share, which would represent a year-over-year decline of 53.17%. Meanwhile, our latest consensus estimate is calling for revenue of $536.10 million, down 17.83% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.27 per share and revenue of $2.16 billion, which would represent changes of -57.88% and -8.67%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SCHN. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 10.02% higher. SCHN is currently a Zacks Rank #2 (Buy).
In terms of valuation, SCHN is currently trading at a Forward P/E ratio of 10.45. Its industry sports an average Forward P/E of 9.61, so we one might conclude that SCHN is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SCHN in the coming trading sessions, be sure to utilize Zacks.com.
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Schnitzer Steel (SCHN) Dips More Than Broader Markets: What You Should Know
Schnitzer Steel closed the most recent trading day at $23.32, moving -1.69% from the previous trading session. This change lagged the S&P 500's daily loss of 0.75%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 0.57%.
Coming into today, shares of the recycler of ferrous and nonferrous scrap metal had lost 3.46% in the past month. In that same time, the Basic Materials sector gained 1.21%, while the S&P 500 gained 4%.
SCHN will be looking to display strength as it nears its next earnings release. On that day, SCHN is projected to report earnings of $0.59 per share, which would represent a year-over-year decline of 53.17%. Meanwhile, our latest consensus estimate is calling for revenue of $536.10 million, down 17.83% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.27 per share and revenue of $2.16 billion, which would represent changes of -57.88% and -8.67%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SCHN. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 10.02% higher. SCHN is currently a Zacks Rank #2 (Buy).
In terms of valuation, SCHN is currently trading at a Forward P/E ratio of 10.45. Its industry sports an average Forward P/E of 9.61, so we one might conclude that SCHN is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SCHN in the coming trading sessions, be sure to utilize Zacks.com.