Steelcase (SCS) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS
Steelcase (NYSE:SCS) issued its quarterly earnings data on Wednesday. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.26 by $0.04, StockRatingsNetwork.com reports. The company had revenue of $757.60 million for the quarter, compared to the consensus estimate of $773.33 million. During the same quarter last year, the company posted $0.25 earnings per share. Steelcase’s revenue was up 1.7% compared to the same quarter last year. Steelcase updated its Q3 guidance to $0.24-0.28 EPS.
A number of analysts have recently weighed in on SCS shares. Analysts at Ned Davis Research upgraded shares of Steelcase (NYSE:SCS) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, July 8th. Analysts at Longbow Research upgraded shares of Steelcase (NYSE:SCS) from a “neutral” rating to a “buy” rating in a research note to investors on Friday, June 21st. They now have a $18.00 price target on the stock.
Shares of Steelcase (NYSE:SCS) traded up 1.36% during mid-day trading on Wednesday, hitting $15.65. 545,866 shares of the company’s stock traded hands. Steelcase has a 52-week low of $9.17 and a 52-week high of $15.89. The stock has a 50-day moving average of $15.01 and a 200-day moving average of $14.36. The company has a market cap of $1.939 billion and a P/E ratio of 51.47.
Steelcase Inc (NYSE:SCS) is engaged in furnishing the work experience in office environments.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.