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Schnitzer Steel upgraded to Overweight from Sector Weight at KeyBanc » 06:32
11/20/20
11/20
06:32
11/20/20
06:32
SCHN

Schnitzer Steel

$23.93 /

+0.14 (+0.59%)

KeyBanc analyst Philip…

KeyBanc analyst Philip Gibbs upgraded Schnitzer Steel to Overweight from Sector Weight with a $28 price target. The analyst increased estimates across the carbon steel group on inflation and end of destocking cycle, and while the equities have largely calibrated these changes, Gibbs sees incremental opportunities ahead for Schnitzer Steel that are not being fully recognized.

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SCHN Schnitzer Steel
$23.93 /

+0.14 (+0.59%)

11/20/20 KeyBanc
Schnitzer Steel upgraded to Overweight from Sector Weight at KeyBanc
SCHN Schnitzer Steel
$23.93 /

+0.14 (+0.59%)

Upgrade
Schnitzer Steel upgraded to Overweight from Sector Weight at KeyBanc » 04:47
11/20/20
11/20
04:47
11/20/20
04:47
SCHN

Schnitzer Steel

$23.93 /

+0.14 (+0.59%)

KeyBanc analyst Philip…

KeyBanc analyst Philip Gibbs upgraded Schnitzer Steel to Overweight from Sector Weight with a $28 price target.

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SCHN Schnitzer Steel
$23.93 /

+0.14 (+0.59%)

Over a month ago
Earnings
Schnitzer Steel reports Q4 EPS 23c, consensus 13c » 08:34
10/22/20
10/22
08:34
10/22/20
08:34
SCHN

Schnitzer Steel

$21.99 /

+0.5 (+2.33%)

Reports Q4 revenue…

Reports Q4 revenue $464.6M, consensus $412.6M. Tamara Lundgren, Chairman and Chief Executive Officer, stated, "These past seven months have been challenging for all of us. We have been confronted with cascading crises, including a global pandemic the likes of which the world has not seen in over a century, a historically significant global recession, and natural disasters. We pivoted quickly to accommodate the operating changes that were necessary in order for us to continue operating safely and effectively in a very volatile market. Our fourth quarter operational and financial results, as well as our full year results, reflect the agility of our team, the strength of our culture, and the resiliency of our platform." Ms. Lundgren continued, "We kept our focus on optimizing our sales, both wholesale and retail, aligning our operating costs with supply and production volumes, and moving ahead with our strategic investments. These results led to strong operating cash flow which enabled us to reduce our debt to its lowest level in a decade, while still returning capital to shareholders and continuing to invest in our strategic initiatives to deliver growth."

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Over a quarter ago
Conference/Events
Schnitzer Steel management to meet virtually with KeyBanc » 04:55
05/11/20
05/11
04:55
05/11/20
04:55
SCHN

Schnitzer Steel

$15.65 /

+0.6775 (+4.52%)

Virtual Meeting with…

Virtual Meeting with management to be held on May 11 hosted by KeyBanc.

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SCHN Schnitzer Steel
$15.65 /

+0.6775 (+4.52%)

09/23/19
Fly Intel: Top five analyst downgrades
09/22/19 Goldman Sachs
Alcoa downgraded to Neutral from Buy at Goldman Sachs
09/22/19 Goldman Sachs
Schnitzer Steel downgraded to Sell from Neutral at Goldman Sachs
05/13/19 KeyBanc
Chinese tariffs negative for Schnitzer Steel, positive for Luxfer, says KeyBanc
Conference/Events
Schnitzer Steel management to meet virtually with KeyBanc » 09:28
05/07/20
05/07
09:28
05/07/20
09:28
SCHN

Schnitzer Steel

$14.52 /

-0.4 (-2.68%)

Virtual Meeting with…

Virtual Meeting with management to be held on May 11 hosted by KeyBanc.

ShowHide Related Items >><<
SCHN Schnitzer Steel
$14.52 /

-0.4 (-2.68%)

09/23/19
Fly Intel: Top five analyst downgrades
09/22/19 Goldman Sachs
Alcoa downgraded to Neutral from Buy at Goldman Sachs
09/22/19 Goldman Sachs
Schnitzer Steel downgraded to Sell from Neutral at Goldman Sachs
05/13/19 KeyBanc
Chinese tariffs negative for Schnitzer Steel, positive for Luxfer, says KeyBanc
Hot Stocks
Schnitzer Steel CEO Tamara Lundgren to succeed John Carter as chairman » 08:19
04/02/20
04/02
08:19
04/02/20
08:19
SCHN

Schnitzer Steel

$12.53 /

-0.52 (-3.98%)

Schnitzer Steel announced…

Schnitzer Steel announced that its board has unanimously elected Tamara Lundgren to succeed John Carter as chairman of the board, effective as of March 27. Lundgren will continue to serve as Schnitzer's president and CEO, a role she has held since December 2008. Carter will continue to serve as a member of the board and will serve as chairman Emeritus until the January 2021 annual meeting.

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SCHN Schnitzer Steel
$12.53 /

-0.52 (-3.98%)

09/23/19
Fly Intel: Top five analyst downgrades
09/22/19 Goldman Sachs
Alcoa downgraded to Neutral from Buy at Goldman Sachs
09/22/19 Goldman Sachs
Schnitzer Steel downgraded to Sell from Neutral at Goldman Sachs
05/13/19 KeyBanc
Chinese tariffs negative for Schnitzer Steel, positive for Luxfer, says KeyBanc
Hot Stocks
Schnitzer Steel to transition to functionally-based, integrated operating model » 08:17
04/02/20
04/02
08:17
04/02/20
08:17
SCHN

Schnitzer Steel

$12.53 /

-0.52 (-3.98%)

Schnitzer Steel announced…

Schnitzer Steel announced that it will transition from its multi-divisional organizational structure to a functionally-based, integrated operating model. The company will consolidate its operations, sales, services and other functional capabilities at an enterprise level. This new structure will result in a more agile organization and solidify the productivity improvement and cost reduction initiatives announced at the start of this fiscal year that have been implemented. The company expects to transition to the new operating model during the remainder of FY20 and to report its financial results in a single segment commencing with Q1 of FY21.

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SCHN Schnitzer Steel
$12.53 /

-0.52 (-3.98%)

09/23/19
Fly Intel: Top five analyst downgrades
09/22/19 Goldman Sachs
Alcoa downgraded to Neutral from Buy at Goldman Sachs
09/22/19 Goldman Sachs
Schnitzer Steel downgraded to Sell from Neutral at Goldman Sachs
05/13/19 KeyBanc
Chinese tariffs negative for Schnitzer Steel, positive for Luxfer, says KeyBanc
Earnings
Schnitzer Steel reports Q2 adj. EPS 31c, consensus 23c » 08:15
04/02/20
04/02
08:15
04/02/20
08:15
SCHN

Schnitzer Steel

$12.53 /

-0.52 (-3.98%)

Reports Q2 revenue…

Reports Q2 revenue $439.48M, two estimates $426.4M. "Our strong second quarter results reflect the resiliency of our operations and the ability of our team to navigate well during an improving but still volatile quarter," said Tamara Lundgren, chairman and CEO. "Both divisions achieved higher sales volumes and benefited from strong execution of the productivity initiatives we implemented during the quarter. In addition, our strong focus on working capital management enabled us to deliver positive operating cash flow notwithstanding higher prices for raw materials."

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SCHN Schnitzer Steel
$12.53 /

-0.52 (-3.98%)

09/23/19
Fly Intel: Top five analyst downgrades
09/22/19 Goldman Sachs
Alcoa downgraded to Neutral from Buy at Goldman Sachs
09/22/19 Goldman Sachs
Schnitzer Steel downgraded to Sell from Neutral at Goldman Sachs
05/13/19 KeyBanc
Chinese tariffs negative for Schnitzer Steel, positive for Luxfer, says KeyBanc
Conference/Events
Schnitzer Steel management to meet with Jefferies » 06:54
02/12/20
02/12
06:54
02/12/20
06:54
SCHN

Schnitzer Steel

$17.81 /

+0.73 (+4.27%)

Meeting to be held in Los…

Meeting to be held in Los Angeles, CA on February 12 hosted by Jefferies.

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SCHN Schnitzer Steel
$17.81 /

+0.73 (+4.27%)

09/23/19
Fly Intel: Top five analyst downgrades
09/22/19 Goldman Sachs
Alcoa downgraded to Neutral from Buy at Goldman Sachs
09/22/19 Goldman Sachs
Schnitzer Steel downgraded to Sell from Neutral at Goldman Sachs
05/13/19 KeyBanc
Chinese tariffs negative for Schnitzer Steel, positive for Luxfer, says KeyBanc
Hot Stocks
Schnitzer Steel's Q1 results miss estimates amid ferrous weakness » 13:12
01/08/20
01/08
13:12
01/08/20
13:12
SCHN

Schnitzer Steel

$21.55 /

-0.11 (-0.51%)

, X

U.S. Steel

$11.22 /

+0.09 (+0.81%)

, AKS

AK Steel

$3.19 /

+0.01 (+0.31%)

, NUE

Nucor

$54.19 /

+0.38 (+0.71%)

Shares of Schnitzer Steel…

Shares of Schnitzer Steel Industries (SCHN) dropped on Wednesday afternoon after the company's first quarter results missed analysts' estimates. QUARTERLY EARNINGS: On Wednesday before the market open, Schnitzer Steel reported quarterly earnings, with an adjusted loss per share of (17c) just missing analysts' (16c) consensus estimate. Revenue of $406M, however, was shy of consensus estimates calling for $427.38M mainly due to the sharp decline in ferrous selling prices during the first two months of the quarter. Ferrous selling prices reached multi-year lows in October, and supply flows tightened considerably. The rise in ferrous selling prices in November led to an easing in supply flows but contributed to margin compression against sales contracted earlier in the quarter, the steel maker pointed out. WEAK PRICING: The company said average ferrous net selling prices decreased $49 per ton, or 18%, sequentially and decreased $85 per ton, or 28%, compared to the prior year first quarter. Average nonferrous net selling prices decreased 4% sequentially and decreased 8% compared to the prior year first quarter, it added. CEO COMMENTARY: "During the first quarter, the scrap markets were challenged by weaker export and domestic markets and a continued structural shift in demand for certain nonferrous products. Our plans to offset these cyclical and structural challenges are well underway and include an increase in our targeted productivity improvements; a significant investment in advanced metal recovery technologies; and a continued drive to increase our total ferrous shipment volumes," commented Tamara Lundgren, president and chief executive officer. "These strategic initiatives can improve our through-the-cycle margins and cash flow, providing us with additional opportunities to grow and to return more capital to our shareholders." PRICE ACTION: Shares of Schnitzer Steel are down 0.6% to $21.53. OTHER STEEL COMPANIES TO WATCH: Schnitzer peers are trading higher including U.S. Steel (X), AK Steel (AKS) and Nucor (NUE).

ShowHide Related Items >><<
SCHN Schnitzer Steel
$21.55 /

-0.11 (-0.51%)

09/23/19
Fly Intel: Top five analyst downgrades
09/22/19 Goldman Sachs
Alcoa downgraded to Neutral from Buy at Goldman Sachs
09/22/19 Goldman Sachs
Schnitzer Steel downgraded to Sell from Neutral at Goldman Sachs
05/13/19 KeyBanc
Chinese tariffs negative for Schnitzer Steel, positive for Luxfer, says KeyBanc
X U.S. Steel
$11.22 /

+0.09 (+0.81%)

12/20/19 GLJ Research
GLJ Research sees 'real threat' to U.S. Steel viability as going concern
12/20/19 BMO Capital
U.S. Steel Q4 guidance miss 'explainable' by price increases, says BMO Capital
11/26/19 Credit Suisse
Credit Suisse lowers steel price deck, says 'fade the rally'
11/14/19 Exane BNP Paribas
U.S. Steel initiated with an Underperform at Exane BNP Paribas
AKS AK Steel
$3.19 /

+0.01 (+0.31%)

12/11/19 UBS
AK Steel upgraded to Neutral from Sell at UBS
12/07/19
Cleveland-Cliffs shares could be worth $10 with AK Steel deal, Barron's says
12/04/19 JPMorgan
JPMorgan has concerns about Cleveland-Cliffs acquisition of AK Steel
12/04/19 JPMorgan
AK Steel upgraded to Neutral from Underweight at JPMorgan
NUE Nucor
$54.19 /

+0.38 (+0.71%)

12/09/19 Longbow
Nucor upgraded to Buy from Neutral at Longbow
11/14/19 Exane BNP Paribas
Nucor initiated with an Outperform at Exane BNP Paribas
11/13/19 KeyBanc
Nucor, Reliance Steel price targets raised at KeyBanc

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