Most Recent Technical Factors Stock Report: Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)

On 08 July 2k19, Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) broke hearts of Investors, when its current beneficial image was observed. The stock price is indicating encouraging picture with current steep move of 0.36% at exchanging price of $25.00. Currently Analysts have a mean recommendation of 3.00 on the shares. This is based on a 1-5 numeric scale where Rating Scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell, 5.0 Strong Sell. The total dollar value of all 26.53 million outstanding shares is 0.66 billion.

Schnitzer Steel Industries, Inc. (SCHN) recently stated results for its third quarter of fiscal 2k19 ended May 31, 2k19. The Company stated earnings per share from continuing operations of $0.56 and adjusted earnings per share of $0.63, a sequential improvement from the second quarter stated and adjusted earnings per share from continuing operations of $0.46 and $0.48, respectively. In the third quarter of fiscal 2k18, the Company’s stated and adjusted earnings per share from continuing operations were $1.31 and $1.26, respectively. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

“Our team delivered another quarter of strong operating performance with both sections achieving higher volumes while navigating a volatile price environment. AMR’s sequentially improved results reflect the team’s ability to continue to optimize purchase volumes and diversify sales, while CSS delivered sequentially higher performance on importantly raised sales volumes and utilization,” commented Tamara Lundgren, President and Chief Executive Officer. “We also generated strong cash flow and reduced our debt in the quarter. Looking forward, we remain focused on the continued implementation of our productivity initiatives, volume growth and capital investment strategy to support our objectives of increasing our efficiency and operating leverage, expanding our products and broadening our consumer reach.”

Margins: 

Operating income was $29M in the third quarter, $7M, or 34%, higher sequentially. Operating income per ferrous ton of $31 was $6 higher sequentially. AMR’s improvement sequentially primarily reflected the benefits from higher retail sales, raised ferrous and nonferrous sales volumes, and higher average nonferrous net selling prices, which were partially offset by raised SG&A expense including higher incentive compensation accruals. Operating income in the previous year third quarter was $55M or $56 per ferrous ton. The year-over-year margin compression resulted primarily from the decline in average net selling prices for nonferrous and ferrous products and lower ferrous sales volumes, partially offset by the benefits from productivity initiatives. Third quarter operating results include an adverse impact from average inventory accounting of $1M contrast to adverse impact of $1M in the second quarter of fiscal 2k19 and a benefit of $2M in the third quarter of fiscal 2k18.

In the third quarter of fiscal 2k19, the Company generated operating cash flow of $40M. Total debt at the end of the third quarter of fiscal 2k19 was $142M, and debt, net of cash, was $134M, a decrease contrast to $163M and $150M, respectively, at the end of the second quarter of fiscal 2k19 (refer to Non-GAAP Financial Measures provided after the financial statements in this document).

SCHN evaluating some of the technical factors:

Schnitzer Steel Industries, Inc. (SCHN)’scurrent distance from 20-Day Simple Moving Average is 3.13% and standing 6.64% away from 50-Day Simple Moving Average while changed hands up 1.20% from 200-Day Simple Moving Average. The stock has advanced 19.39% to a low over the last 12 months and indicated declining move -34.12% to a high over the similar phase. Stock price while comparing to moving averages as well as highs and lows for the year might be of grateful use for experts to forecast future stock performance. They might be used to help the trader understand proper support and resistance levels for the stock.

Leave a Reply

Your email address will not be published. Required fields are marked *