SCHN: Schnitzer Steel Industries, Inc. Instablogs

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Wednesday, May 29, 3:33 PM DA Davidson's weighs in on Schnitzer Steel (SCHN -2.9%), saying it wasn't surprised by the downbeat tempo of today's earnings guidance. As a result of what it sees as a soft market and tight supply, it's dropping H2 estimates and its price target to $32 from $36. Comment! [Commodities, Earnings, On the Move]
Wednesday, May 29, 9:40 AM Schnitzer Steel (SCHN -1.6%) provides a FQ3 outlook, and expects to incur a pre-tax charge of ~$1M related to its 2012 restructuring program. Ferrous export selling prices have declined steadily through the quarter, with market prices now ~$50/ton lower than at the end of FQ2 driven primarily by lower export demand. As a result, SCHN expects lower consolidated net income Q/Q. Comment! [Commodities, On the Move]
Tuesday, May 28, 5:47 PM Goldman Sachs cuts its 2014-15 EPS estimates for steel producers due to lower expected steel prices (SLX) and only modest increases in orders despite macro data indicating an improving market. Price-sensitive names AK Steel (AKS) and U.S. Steel (X) could suffer further declines, the firm says as it prefers specialty companies such as Reliance Steel (RS) and Carpenter Tech (CRS). 1 Comment [Commodities]
Friday, April 26, 9:18 AM Schnitzer Steel Industries, Inc. (SCHN) declares $0.1875/share quarterly dividend, in line with previous. Forward yield 3.11%. For shareholders of record May 16. Payable May 30. Ex-div date May 14. (PR) Comment! [Dividends]
Wednesday, April 3, 8:36 AM Schnitzer Steel (SCHN): FQ2 EPS of $0.36 beats by $0.12. Revenue of $662M misses by $21.44M. (PR) Comment! [Earnings, Breaking News]
Wednesday, April 3, 12:05 AM Notable earnings before Wednesday’s open: CAG, MON, SCHN Comment! [Earnings]
Tuesday, April 2, 5:30 PM Notable earnings before Wednesday’s open: CAG, MON, SCHN Comment! [Earnings]
Monday, February 4, 7:46 AM Schnitzer Steel Industries, Inc. (SCHN) declares $0.1875/share quarterly dividend, in line with previous. Forward yield 2.54%. For shareholders of record Feb. 21. Payable Mar. 07. Ex-div date Feb. 19. (PR) Comment! [Dividends]
Tuesday, January 8, 2:17 PM Schnitzer Steel (SCHN -7.2%) is shaping up as one of the day's biggest losers after reporting a FQ1 loss, weighed by worse-than-expected respective revenue drops of 32% and 27% in its metals recycling and auto parts businesses, as well as restructuring costs. The market was expecting at least a small profit. Comment! [Commodities, On the Move]
Tuesday, January 8, 8:32 AM Schnitzer Steel (SCHN): FQ1 EPS of -$0.02 misses by $0.02. Revenue of $592.8M (-27% Y/Y) misses by $24.M. (PR) Comment! [Earnings]
Friday, December 14, 2012, 2:15 PM Steel stocks show solid gains following positive China PMI data; the steel sector often is the most responsive industry to Chinese PMI data. AKS +6.7%, X +6.4%, STLD +5.1%, CMC +3.4%, MT +3.2%, NUE +3%, CMC +2.8%, RS +2.6%, SCHN +2.4%. Iron ore and metallurgical coal stocks also benefit: CLF +4.6%, WLT +3.2%, RIO +3.2%, VALE +3.1%, BHP +1.3%. Comment! [Commodities, On the Move]
Tuesday, November 27, 2012, 2:49 PM Schnitzer Steel (SCHN -2.7%) shares popped higher, then fell back again, after receiving an upgrade from BofA/Merrill, which sees a more limited downside after disappointing FQ1 results likely were a trough. The ferrous and steel scrap recycling company said sales prices for ferrous metals were dropping due to significantly lower domestic utilization rates and the weak global economy. Comment! [Commodities, Quick Ideas, On the Move]
Tuesday, November 27, 2012, 9:39 AM Schnitzer Steel (SCHN -5.1%) expects ferrous average net selling prices to decline ~5% Q/Q, with sales volumes down ~20%. SCHN says both export and domestic sales prices for ferrous metals during the first half of the current quarter dropped ~$50/ton from August levels, due to significantly lower domestic utilization rates and the weak global economy. Comment! [Commodities, On the Move]
Monday, November 12, 2012, 4:20 PM Schnitzer Steel Industries Inc. (SCHN) declares $0.19/share quarterly dividend, in line with previous. Forward yield 2.61%. For shareholders of record Nov. 29. Payable Dec. 13. Ex-div Nov. 27. (PR) Comment! [Dividends]
Tuesday, November 6, 2012, 2:16 PM Steel companies are advancing after AK Steel (AKS +6.5%) announced last night that it would increase prices for all carbon steel products by $50/ton. Also, Nucor (NUE +1.7%) enjoys a boost as its deal for a 50% working interest in gas wells to be drilled by Encana hedges against an expected future rise in U.S. natural gas prices. X +5.8%, SCHN +5.4%, STLD +4.7%. Comment! [Commodities, On the Move]
Friday, October 26, 2012, 2:00 PM DA Davidson upgrades a couple steel names today, citing optimism for a seasonal upturn in scrap prices. It upgrades Schnitzer Steel (SCHN -2%) and Sims Metal (SMS -0.2%) both to Buy (I , II). SCHN also reported a solid FQ4 yesterday, which Davidson says should provide added momentum over the near term Comment! [Commodities]

SCHN Schnitzer Steel Industries, Inc.

SCHN

Schnitzer Steel Industries, Inc.