Somewhat Positive Media Coverage Somewhat Unlikely to Impact Steelcase (SCS) Stock Price

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Media stories about Steelcase (NYSE:SCS) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Steelcase earned a news sentiment score of 0.05 on Accern’s scale. Accern also assigned news headlines about the business services provider an impact score of 46.6654198350986 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

SCS traded up $0.10 during mid-day trading on Thursday, reaching $14.80. 3,974 shares of the stock were exchanged, compared to its average volume of 346,166. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.18. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 16.26 and a beta of 1.33. Steelcase has a 1 year low of $13.10 and a 1 year high of $15.90.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, June 20th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14. The firm had revenue of $754.00 million for the quarter, compared to the consensus estimate of $754.17 million. Steelcase had a net margin of 2.59% and a return on equity of 13.38%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. equities analysts anticipate that Steelcase will post 0.95 EPS for the current year.

SCS has been the topic of a number of analyst reports. ValuEngine raised shares of Steelcase from a “sell” rating to a “hold” rating in a report on Monday, August 20th. TheStreet downgraded shares of Steelcase from a “b-” rating to a “c+” rating in a report on Monday, June 25th. Finally, Zacks Investment Research raised shares of 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, The stock has a consensus rating of “Hold” and a consensus price target of $16.00.

In related news, Director Jennifer C. Niemann sold 3,400 shares of the business’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 transaction, the director now directly owns 3,838 shares of the company’s stock, valued at approximately $54,384.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sara E. Armbruster sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $13.75, for a total transaction of $137,500.00. Following the completion of the transaction, the vice president now directly owns 67,474 shares in the company, valued at $927,767.50. The disclosure for this sale can be found here. 17.58% of the stock is owned by insiders.

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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