Yahoo Finance Schnitzer Steel (SCHN) Flat As Market Sinks: What You Should Know
Schnitzer Steel (SCHN) closed at $33.01 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Coming into today, shares of the recycler of ferrous and nonferrous scrap metal had lost 0.18% in the past month. In that same time, the Basic Materials sector lost 3.6%, while the S&P 500 gained 0.84%.
Wall Street will be looking for positivity from Schnitzer Steel as it approaches its next earnings report date. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $674.4 million, down 13.89% from the year-ago period.
SCHN's full-year Zacks Consensus Estimates are calling for earnings of $0.88 per share and revenue of $2.74 billion. These results would represent year-over-year changes of -85.5% and -21.42%, respectively.
Investors might also notice recent changes to analyst estimates for Schnitzer Steel. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 5.38% lower within the past month. Schnitzer Steel is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Schnitzer Steel is holding a Forward P/E ratio of 37.51. This valuation marks a premium compared to its industry's average Forward P/E of 10.57.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 Industries, Inc. (SCHN) : Free Stock Analysis Report
