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SCHN

Schnitzer Steel

$22.94

0.43 (1.91%)

08:08
06/14/19
06/14
08:08
06/14/19
08:08

Schnitzer Steel reports preliminary Q3 adj. EPS 58c-62c, consensus 58c

  • 26

    Jun

SCHN Schnitzer Steel
$22.94

0.43 (1.91%)

08/15/18
08/15/18
DOWNGRADE
Target $26

Underweight
Schnitzer Steel downgraded to Underweight on China duties at Morgan Stanley
As previously reported, Morgan Stanley analyst Piyush Sood downgraded Schnitzer Steel to Underweight from Equal Weight and cut his price target to $26 from $38 as he believes the impact of China's import duties on nonferrous scrap doesn't seem priced in yet. China's tariffs and import restrictions have caused an 8-14% price decline in zorba - the residual metal mixture left over after scrap shredders have extracted all high purity metal from end-of-life vehicles and white goods- since April, noted Sood, who also believes there are limits on how much scrap shredders such as Schnitzer can lower their buying costs. The company could face a roughly $40M annual EBITDA headwind from zorba, estimated Sood.
01/08/19
COWN
01/08/19
INITIATION
Target $24
COWN
Market Perform
Schnitzer Steel initiated with a Market Perform at Cowen
Cowen analyst Tyler Kenyon initiated Schnitzer Steel with a Neutral and $24 price target.
01/14/19
GSCO
01/14/19
DOWNGRADE
Target $27
GSCO
Neutral
Schnitzer Steel downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Matthew Korn downgraded Schnitzer Steel to Neutral and lowered his price target for the shares to $27 from $33. Management acknowledged in the company's fiscal Q1 results that severe deterioration in the export markets for both ferrous scrap and non-ferrous scrap has substantially reduced its core profitability, Korn tells investors in a research note. He believes earnings volatility is likely to limit valuation expansion for Schnitzer Steel.
05/13/19
KEYB
05/13/19
NO CHANGE
KEYB
Chinese tariffs negative for Schnitzer Steel, positive for Luxfer, says KeyBanc
KeyBanc analyst Philip Gibbs notes that the Trump administration announced the U.S. will be ratcheting up import tariffs to 25% from 10% on about $200B worth of Chinese goods. All else equal, Gibbs sees this as a modest negative for steel producers as key consumables remain sticky, and a relative neutral for ArcelorMittal (MT) given its global exposure. On steelmaking raw materials, the analyst sees this as a neutral for Cleveland-Cliffs (CLF) and a negative for Schnitzer Steel (SCHN), with the latter in the heart of challenged non-ferrous export markets. He also views this largely as a neutral for distributors, with perhaps a modest positive of Worthington's (WOR) Cylinders segment. Clearer winners appear to be Global Brass and Copper (BRSS), Luxfer (LXFR), and Materion (MTRN), whereby it will be tougher for the Chinese to compete within the U.S. in its core businesses.

TODAY'S FREE FLY STORIES

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BBRX

Braeburn Pharmaceuticals

$0.00

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FISV

Fiserv

$90.27

-0.53 (-0.58%)

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EVSI

Envision Solar

$5.11

-0.22 (-4.13%)

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KDMN

Kadmon

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-0.05 (-2.93%)

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NVCR

Novocure

$57.44

-0.58 (-1.00%)

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CSTR

CapStar Financial

$15.01

0.05 (0.33%)

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Downgrade
CapStar Financial rating change  »

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PCRX

Pacira

$43.53

0.39 (0.90%)

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ODT

Odonate Therapeutics

$28.14

-0.29 (-1.02%)

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Syndicate
Odonate Therapeutics 4.75M share Spot Secondary priced at $26.00 »

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  • 22

    Jul

  • 26

    Jun

X

U.S. Steel

$14.93

0.48 (3.32%)

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Options
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EGO

Eldorado Gold

$5.46

-0.02 (-0.36%)

07:34
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Upgrade
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XON

Intrexon

$7.34

0.17 (2.37%)

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BOSC

B.O.S. Better Online

$2.73

(0.00%)

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PRIM

Primoris

$19.57

0.32 (1.66%)

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MSFT

Microsoft

$133.43

-4.37 (-3.17%)

, AMZN

Amazon.com

$1,879.26

-34.17 (-1.79%)

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MSFT

Microsoft

$133.43

-4.37 (-3.17%)

AMZN

Amazon.com

$1,879.26

-34.17 (-1.79%)

ORCL

Oracle

$56.07

-0.65 (-1.15%)

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  • 09

    Jul

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  • 06

    Aug

EXTR

Extreme Networks

$5.73

0.08 (1.42%)

07:30
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Options
Unusual put flow in option market yesterday »

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  • 26

    Jun

DNLI

Denali Therapeutics

$20.22

0.56 (2.85%)

07:29
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Initiation
Denali Therapeutics initiated  »

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CRCM

Care.com

$14.13

0.21 (1.51%)

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Recommendations
Care.com analyst commentary  »

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CRCM

Care.com

$14.13

0.21 (1.51%)

07:28
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07:28
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07:28
Downgrade
Care.com rating change  »

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LEN

Lennar

$48.24

-3.17 (-6.17%)

07:27
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07:27
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07:27
Recommendations
Lennar analyst commentary  »

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  • 27

    Jun

  • 28

    Jun

MU

Micron

$32.71

-0.47 (-1.42%)

07:27
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Upgrade
Micron rating change  »

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  • 09

    Jul

AVAV

AeroVironment

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