Extremely significant negative changes in Schnitzer Steel Industries Inc (NASDAQ: SCHN) investment behavior have recently occurred: negative upside/downside volume developed, and the stock fell on very heavy volume.
Recent important negative changes in fundamentals have affected Schnitzer Steel Industries Inc (NASDAQ: SCHN). Negative developments: significant quarterly sales deceleration occurred, the consensus estimate for August, 2024 decreased significantly, and the consensus estimate for August, 2025 decreased significantly. Positive development: significant quarterly earnings acceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
SCHN’s future returns on capital are forecasted to be in line with the cost of capital. Accordingly, the company is expected to be Value Creation neutral.
Schnitzer Steel Industries has a current Value Trend Rating of C (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Schnitzer Steel Industries has a good Appreciation Score of 82 but a very low Power Rating of 8, producing the Low Neutral Value Trend Rating.
Recent Price Action
On 2/29/24, Schnitzer Steel Industries Inc (NASDAQ: SCHN) stock declined by -4.0%, closing at $19.76. Moreover, exceptionally high trading volume at 376% of normal accompanied the decline. Relative to the market the stock has been weak over the last nine months and has declined -16.9% during the last week.
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