Schnitzer Steel Industries Inc. [NASDAQ:SCHN] will report earnings after markets close on Thursday, January 7th.
SCHN Earnings Forecast For The Current Quarter
Schnitzer Steel Industries Inc. [SCHN] is expected to report strong earnings results for the quarter ending in Nov 2020. Consensus estimates give the company expected revenues of $437.65M and an earnings per share of $0.39 for Nov 2020. Looking further ahead, the company is expected to report revenue of $580.64M at an EPS of $0.55 for Feb 2021. The estimates represent 2.90% and 17.92% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SCHN Earnings Estimates For The Current Year
For the financial year, Schnitzer Steel Industries Inc. [NASDAQ:SCHN] is expected to bring in revenue of $1.8B. The returns are nearly $90.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 1.49, higher than that of FY20 by $1.06. Estimates put this year’s earnings growth at 246.50%, 18.10% for the next, and at an annual 10.00% over the next 5-year period. As for sales, forecasts are for an increase of 5.10% in the current fiscal year and a further 2.90% over the following year.
SCHN Price Performance
On Wall Street, Schnitzer Steel Industries Inc. [NASDAQ:SCHN] finished Tuesday’s session up 8.29% at $35.14. The stock went up to $35.34 at the same session while its lowest single day price was $32.46. In the last five days, it saw a rise of about 15.33%, Schnitzer Steel Industries Inc. shares gained by almost 10.12% since the beginning of the year. However, the share price has dropped to as low as 5.37% below its one year high. On 01/05/21, the company shares recorded $35.34, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $31.53. The company’s shares have inclined by 62.46% in the past year. The 50-day SMA achieved is $26.22 while the 200-day SMA is $19.58. Volume gained to 0.34 million from 0.3 million in the previous session.
SCHN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 33.29 level, and in case of violation of this particular level, it will cause more drop to 31.43 level. On the upper level, 37.19 is still the key resistance. The stock may increase to the subsequent resistance at 36.17. The Relative Strength Index (RSI) pinned on the 14-day chart is 80.62, implying an overbought technical stance while the MACD stands at 2.02, meaning price will increase in the next trading period. Percent R indicator moved to 3.26%, implying bullish price movement. Stochastic %K at 90.40% suggest selling the stock.
Is Schnitzer Steel Industries Inc. [NASDAQ:SCHN] a Good Buy Right Now?
It should be noted that SCHN technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Schnitzer Steel Industries Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.22 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.19 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.21 million shares.
What is the short interest in Schnitzer Steel Industries Inc.?
Short interest in the Schnitzer Steel Industries Inc. stock has plunged, decreasing by -0.14 million shares to total 0.9 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.76 million, data from Yahoo Finance shows. The increase of 15.45% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 4.34% of the overall float for the stock.
Schnitzer Steel Industries Inc.’s Biggest Shareholders: Who Owns Schnitzer Steel Industries Inc. [SCHN]?
Filings by Dimensional Fund Advisors LP showed that the firm now holds a total of 2,242,206 shares or roughly 8.34% of the outstanding SCHN shares. This means their shares have reduced by -20,587 from the 2,242,206 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $57,104,956. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -2.69% stake valued at $54,534,553 while SSgA Funds Management, Inc. cut theirs at $33,060,227. During the last quarter, BlackRock Fund Advisors liquidated -58,775 of its shares in Schnitzer Steel Industries Inc. while SSgA Funds Management, Inc. sold -424,610 shares. The AllianceBernstein LP’s holdings currently number 1,037,430 shares at $36455290.2. According to the firm’s last 13F report, Mellon Investments Corp. shares in the company at filing stood at 827,585 shares, roughly $21,202,728.
What are analyst thoughts on Schnitzer Steel Industries Inc.?
Looking forward to the Schnitzer Steel Industries Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Schnitzer Steel Industries Inc. stock at $31.00 within the next 12 months, which represents almost -13.35 per cent growth from its previous closing price of $35.14. The highest analysts’ target for Schnitzer Steel Industries Inc. stock projections is $35.00 and the lowest one is $27.00. Still, 3 analysts sharing their consensus rating for SCHN stock in 2021 agree that it is a Hold.