Schnitzer Steel Industries, Inc. Fourth Quarter Earnings Sneak Peek

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) will unveil its latest earnings on Thursday, October 20, 2011. Schnitzer Steel Industries is currently a recycler of ferrous and nonferrous scrap metal and used and salvaged vehicles. It is also a manufacturer of finished steel products.

Schnitzer Steel Industries, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.22 per share, a rise of more than twofold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.21. Between one and three months ago, the average estimate moved up. It has been unchanged at $1.22 during the last month. Analysts are projecting profit to rise by 44.4% versus last year to $4.13.

Past Earnings Performance: Last quarter, the company fell short of estimates by 25 cents, coming in at net income of $1.17 per share against a mean estimate of profit of $1.19. The company topped expectations in the second quarter.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 53.8% in revenue from the year-earlier quarter to $983 million.

Analyst Ratings: Analysts are bullish on this stock with seven analysts rating it as a buy, one rating it as a sell and one rating it as a hold.

A Look Back: In the third quarter, profit fell 18.4% to $33 million ($1.18 a share) from $40.5 million ($1.43 a share) the year earlier, missing analyst expectations. Revenue rose 39.4% to $981.1 million from $703.5 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 38.4%, with the biggest boost coming in the first quarter when revenue rose 71.2% from the year earlier quarter.

Competitors to Watch: Sims Metal Management Ltd (NYSE:SMS), Commercial Metals Company (NYSE:CMC), Steel Dynamics, Inc. (NASDAQ:STLD), Nucor Corporation (NYSE:NUE), Metalico, Inc. (AMEX:MEA), Worthington Industries, Inc. (NYSE:WOR), AK Steel Holding Corp. (NYSE:AKS), Titanium Metals Corp. (NYSE:TIE), Grupo Simec S.A.B. de C.V. (AMEX:SIM), and United States Steel Corp. (NYSE:X).

Stock Price Performance: During July 21, 2011 to October 14, 2011, the stock price had fallen $14.48 (-25.9%) from $55.99 to $41.51. The stock price saw one of its best stretches over the last year between December 27, 2010 and January 6, 2011 when shares rose for nine-straight days, rising 5.1% (+$3.34) over that span. It saw one of its worst periods between April 4, 2011 and April 14, 2011 when shares fell for nine-straight days, falling 9.2% (-$6.06) over that span. Shares are down $24.82 (-37.4%) year to date.

(Source: Xignite Financials)

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