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Schnitzer Steel (SCHN) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Schnitzer Steel (SCHN) closed at $56.50, marking a -1.22% move from the previous day. This change lagged the S&P 500's daily loss of 0.18%.

Heading into today, shares of the recycler of ferrous and nonferrous scrap metal had gained 1.54% over the past month, outpacing the Basic Materials sector's loss of 1.53% and the S&P 500's gain of 0.04% in that time.

SCHN will be looking to display strength as it nears its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $734.5 million, up 82.4% from the prior-year quarter.

SCHN's full-year Zacks Consensus Estimates are calling for earnings of $5.35 per share and revenue of $2.51 billion. These results would represent year-over-year changes of +1144.19% and +46.31%, respectively.

Investors might also notice recent changes to analyst estimates for SCHN. 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. 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.31% higher. SCHN is currently sporting a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that SCHN has a Forward P/E ratio of 10.69 right now. For comparison, its industry has an average Forward P/E of 7.34, which means SCHN is trading at a premium to the group.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% 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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