Analysts expect that Steelcase Inc. (NYSE:SCS) will post earnings per share of $0.29 for the current quarter, Zacks reports. Two analysts have provided estimates for Steelcase’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.30. Steelcase posted earnings of $0.31 per share during the same quarter last year, which would suggest a negative year over year growth rate of 6.5%. The firm is expected to issue its next earnings report on Monday, September 17th.
According to Zacks, analysts expect that Steelcase will report full-year earnings of $0.95 per share for the current fiscal year. For the next financial year, analysts forecast that the firm will report earnings of $1.17 per share, with EPS estimates ranging from $1.10 to $1.23. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Steelcase.
Steelcase (NYSE:SCS) last released its quarterly earnings data on Wednesday, June 20th. The business services provider reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. Steelcase had a return on equity of 13.38% and a net margin of 2.59%. The business had revenue of $754.00 million for the quarter, compared to the consensus estimate of $754.17 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis.
A number of research analysts have recently commented on SCS shares. ValuEngine upgraded Steelcase from a “sell” rating to a “hold” rating in a report on Monday. TheStreet downgraded Steelcase from a “b-” rating to a “c+” rating in a report on Monday, June 25th. Finally, Zacks Investment Research upgraded Steelcase from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, June 26th. Four equities research analysts have rated the stock with a hold rating, Steelcase presently has a consensus rating of “Hold” and a consensus target price of $16.00.
In related news, VP Sara E. Armbruster sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of $13.75, for a total transaction of $137,500.00. Following the transaction, the vice president now owns 67,474 shares in the company, valued at approximately $927,767.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer C. Niemann sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, July 6th. The stock was sold at an average price of $14.17, for a total value of $48,178.00. Following the transaction, the director now owns 3,838 shares in the company, valued at approximately $54,384.46. The disclosure for this sale can be found here. Company insiders own 17.58% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Hartford Investment Management Co. purchased a new position in Steelcase during the 2nd quarter worth approximately $167,000. Xact Kapitalforvaltning AB purchased a new position in shares of Steelcase in the 4th quarter valued at approximately $192,000. WBI Investments Inc. purchased a new position in shares of Steelcase in the 2nd quarter valued at approximately $173,000. Summit Trail Advisors LLC grew its stake in shares of Steelcase by 53.0% in the 1st quarter. Summit Trail Advisors LLC now owns 13,044 shares of the business services provider’s stock valued at $180,000 after purchasing an additional 4,521 shares during the last quarter. Finally, Baldwin Brothers Inc. MA purchased a new position in shares of Steelcase in the 2nd quarter valued at approximately $184,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.
Shares of SCS traded up $0.12 during mid-day trading on Friday, reaching $14.12. The company’s stock had a trading volume of 3,739 shares, compared to its average volume of 420,054. Steelcase has a 12-month low of $12.50 and a 12-month high of $15.90. The company has a market cap of $1.62 billion, a P/E ratio of 15.47 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.18 and a current ratio of 1.61.
Steelcase Company Profile
Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as other products, including worktools.
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