Sims Metal Management (NYSE: SMS) Upgraded by JP Morgan to Overweight
Friday, May 06, 2022 1:00 PM

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JP Morgan upgraded Sims Metal Management (NYSE: SMS) to Overweight from Neutral based on a recovery in ferrous arrisings and its positive impact on margins. An arrising is a sharp edge or ridge formed by two surfaces meeting.

In the third quarter ended 31 March 2011, the company had sales revenue of $2.2 billion and a net-profit after taxes of $73.5 million, up 36 percent and 142 percent, respectively, on the prior corresponding period. EBITDA totaled $146.4 million and EBIT was $114.4 million, up 88 percent and 165 percent, respectively, on the prior corresponding period.

Shares last traded at $18.30, down 4.11 percent on Thursday. SMS has a 52-week low of $13 and a 52-week high of $22.41. The company has a total market cap of $3.91 billion. The price to earnings ratio of the company is 29.38, and the PEG ratio is 2.98.

Sims Metal Management Limited operates in the metal recycling industry. The company engages in ferrous secondary recycling, non-ferrous secondary recycling, secondary processing, and recycling solutions businesses. Sims Metal Management Limited was incorporated in 2005 and is based in New York, New York.
 

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