KeyBanc Lowers Estimates on Schnitzer Steel (SCHN); Several Headwinds Persist
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Price: $25.77 +0.31%
Rating Summary:
2 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
2 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade SCHN Now!
KeyBanc maintains a 'Hold' on Schnitzer Steel (NASDAQ: SCHN).
Analyst, Philip Gibbs, currently sees a number of headwinds in the near and intermediate term including: 1) renewed scrap export from Japan into SCHN's most important Asian markets; 2) slowing manufacturing activity (except Turkey); 3) weak Euro now favors European scrap exporters; and 4) Drop in global scrap prices
Gibbs said, "Following the 3Q12 earnings report, we are lowering our FY12 (August) and FY13 EPS estimates for Schnitzer Steel to $1.20 (from $1.30) and $2.00 (from $2.40), respectively."
For an analyst ratings summary and ratings history on Schnitzer Steel click here. For more ratings news on Schnitzer Steel click here.
Shares of Schnitzer Steel closed at $28.34 yesterday, with a 52 week range of $22.78-$59.06.
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Analyst, Philip Gibbs, currently sees a number of headwinds in the near and intermediate term including: 1) renewed scrap export from Japan into SCHN's most important Asian markets; 2) slowing manufacturing activity (except Turkey); 3) weak Euro now favors European scrap exporters; and 4) Drop in global scrap prices
Gibbs said, "Following the 3Q12 earnings report, we are lowering our FY12 (August) and FY13 EPS estimates for Schnitzer Steel to $1.20 (from $1.30) and $2.00 (from $2.40), respectively."
For an analyst ratings summary and ratings history on Schnitzer Steel click here. For more ratings news on Schnitzer Steel click here.
Shares of Schnitzer Steel closed at $28.34 yesterday, with a 52 week range of $22.78-$59.06.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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