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Schnitzer Stock Hits New 52-Week Low (SCHN)

By TheStreet Wire 05/16/12 - 02:55 PM EDT

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NEW YORK (TheStreet) -- Schnitzer Steel Industries (Nasdaq:SCHN) hit a new 52-week low Wednesday as it is currently trading at $32.76, below its previous 52-week low of $32.82 with 241,550 shares traded as of 3:30 p.m. ET. Average volume has been 324,300 shares over the past 30 days.

Schnitzer has a market cap of $880.9 million and is part of the basic materials sector and metals & mining industry. Shares are down 21.1% year to date as of the close of trading on Tuesday.

Schnitzer Steel Industries, Inc. engages in recycling ferrous and nonferrous scrap metals, and used and salvaged vehicles; and manufacturing finished steel products. The company has a P/E ratio of 349.1, above the average metals & mining industry P/E ratio of 11.3 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Schnitzer as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. You can view the full Schnitzer Ratings Report.

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