In the latest trading session, Schnitzer Steel closed at $53.33, marking a -0.41% move from the previous day. This change lagged the S&P 500's daily gain of 1.06%.
Prior to today's trading, shares of the recycler of ferrous and nonferrous scrap metal had gained 25.06% over the past month. This has outpaced the Basic Materials sector's gain of 5.01% and the S&P 500's loss of 1.05% in that time.
SCHN will be looking to display strength as it nears its next earnings release. In that report, analysts expect SCHN to post earnings of $1.82 per share. This would mark year-over-year growth of 3540%. Our most recent consensus estimate is calling for quarterly revenue of $734.5 million, up 82.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.85 per share and revenue of $2.51 billion, which would represent changes of +1027.91% and +46.31%, respectively, from the prior year.
It is also important to note the 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 remained stagnant. SCHN is currently a Zacks Rank #2 (Buy).
Looking at its valuation, SCHN is holding a Forward P/E ratio of 11.04. This represents a premium compared to its industry's average Forward P/E of 7.64.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Schnitzer Steel (SCHN) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Schnitzer Steel closed at $53.33, marking a -0.41% move from the previous day. This change lagged the S&P 500's daily gain of 1.06%.
Prior to today's trading, shares of the recycler of ferrous and nonferrous scrap metal had gained 25.06% over the past month. This has outpaced the Basic Materials sector's gain of 5.01% and the S&P 500's loss of 1.05% in that time.
SCHN will be looking to display strength as it nears its next earnings release. In that report, analysts expect SCHN to post earnings of $1.82 per share. This would mark year-over-year growth of 3540%. Our most recent consensus estimate is calling for quarterly revenue of $734.5 million, up 82.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.85 per share and revenue of $2.51 billion, which would represent changes of +1027.91% and +46.31%, respectively, from the prior year.
It is also important to note the 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 remained stagnant. SCHN is currently a Zacks Rank #2 (Buy).
Looking at its valuation, SCHN is holding a Forward P/E ratio of 11.04. This represents a premium compared to its industry's average Forward P/E of 7.64.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.