Auriga Cuts Price Target on Schnitzer Steel (SCHN)
Equities researchers at Auriga dropped their target price on shares of Schnitzer Steel (NASDAQ: SCHN) from $44.00 to $36.00 in a report issued on Friday. The firm currently has a “hold” rating on the stock.
Shares of Schnitzer Steel traded up 1.52% during mid-day trading on Friday, hitting $26.66. Schnitzer Steel has a 52 week low of $32.82 and a 52 week high of $62.59. The company has a market cap of $733.4 million and a P/E ratio of 8.46.
Schnitzer Steel last issued its quarterly earnings data on Thursday, April 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, analysts predict that Schnitzer Steel will post $0.75 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at DA Davidson downgraded shares of Schnitzer Steel from a “neutral” rating to an “underperform” rating in a research note to investors on Friday. Separately, analysts at KeyBanc (NYSE: KEY) initiated coverage on shares of Schnitzer Steel in a research note to investors on Monday, April 30th. They set a “hold” rating on the stock. Finally, analysts at Goldman Sachs (NYSE: GS) cut their price target on shares of Schnitzer Steel from $47.00 to $37.00 in a research note to investors on Monday, April 9th.
Schnitzer Steel Industries, Inc. (SSI) is a recycler of ferrous and nonferrous scrap metal. The Company is a recycler of used and salvaged vehicles and a manufacturer of finished steel products.