Steelcase Inc. (SCS) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Steelcase Inc. (NYSE:SCS) have earned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating. Steelcase’s rating score has declined by 50% from 90 days ago as a result of a number of analysts’ ratings changes.
Zacks has also assigned Steelcase an industry rank of 246 out of 265 based on the ratings given to its competitors.
Separately, 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 Wednesday, September 28th.
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A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in shares of Steelcase by 149.4% in the first quarter. Goldman Sachs Group Inc. now owns 846,999 shares of the company’s stock valued at $12,637,000 after buying an additional 507,329 shares during the period. BlackRock Inc. increased its stake in shares of Steelcase by 19.7% in the first quarter. BlackRock Inc. now owns 18,974 shares of the company’s stock valued at $283,000 after buying an additional 3,123 shares during the period. Wellington Management Group LLP increased its stake in shares of Steelcase by 5.2% in the first quarter. Wellington Management Group LLP now owns 2,729,643 shares of the company’s stock valued at $40,726,000 after buying an additional 134,228 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Steelcase by 7.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,314,379 shares of the company’s stock valued at $34,531,000 after buying an additional 158,455 shares during the period. Finally, Skyline Asset Management LP increased its stake in shares of Steelcase by 21.1% in the first quarter. Skyline Asset Management LP now owns 1,928,800 shares of the company’s stock valued at $28,778,000 after buying an additional 335,600 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.
Shares of Steelcase (NYSE:SCS) traded down 0.37% during mid-day trading on Thursday, hitting $13.45. 226,852 shares of the stock traded hands. Steelcase has a one year low of $11.67 and a one year high of $20.37. The stock has a 50-day moving average of $14.10 and a 200 day moving average of $14.65. The stock has a market cap of $1.59 billion, a PE ratio of 9.70 and a beta of 1.21.
Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, September 21st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.32. The firm earned $758 million during the quarter. Steelcase had a net margin of 5.67% and a return on equity of 17.38%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. Equities analysts predict that Steelcase will post $1.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Tuesday, October 4th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, September 30th. Steelcase’s dividend payout ratio (DPR) is presently 35.04%.
Steelcase Company Profile
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
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