News stories about Steelcase (NYSE:SCS) have trended somewhat positive on Wednesday, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Steelcase earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned headlines about the business services provider an impact score of 45.9018870960277 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Shares of SCS traded down $0.05 during trading hours on Wednesday, reaching $14.25. 4,721 shares of the company traded hands, compared to its average volume of 420,054. The firm has a market capitalization of $1.62 billion, a P/E ratio of 15.77 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 has a 1-year low of $12.55 and a 1-year high of $15.90.
Steelcase (NYSE:SCS) last announced its quarterly earnings data on Wednesday, June 20th. The business services provider reported $0.14 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.14. The business had revenue of $754.00 million during the quarter, compared to analyst estimates of $754.17 million. Steelcase had a net margin of 2.59% and a return on equity of 13.38%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. equities analysts forecast that Steelcase will post 0.95 earnings per share for the current year.
A number of research analysts have weighed in on SCS shares. ValuEngine lowered shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised shares of Steelcase from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, June 26th. Finally, TheStreet lowered shares of Steelcase from a “b-” rating to a “c+” rating in a research report on Monday, June 25th. Four investment analysts have rated the stock with a hold rating, Steelcase currently has an average rating of “Hold” and an average price target of $16.00.
In related news, Director Jennifer C. Niemann sold 3,400 shares of the company’s stock in a transaction dated Friday, July 6th. The shares were sold at an average price of $14.17, for a total value of $48,178.00. Following the sale, the director now owns 3,838 shares of the company’s stock, valued at $54,384.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sara E. Armbruster sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 26th. The shares were sold at an average price of $13.75, for a total transaction of $137,500.00. Following the completion of the sale, the vice president now directly owns 67,474 shares in the company, valued at approximately $927,767.50. The disclosure for this sale can be found here. 17.58% of the stock is currently owned by corporate insiders.
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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