Steelcase Inc. (SCS) Set to Announce Earnings on Monday
Steelcase Inc. (NYSE:SCS) will be releasing its earnings data after the market closes on Monday, September 18th. Analysts expect Steelcase to post earnings of $0.23 per share for the quarter. Steelcase has set its Q2 guidance at 0.21-0.25 EPS.
Steelcase (NYSE:SCS) last issued its quarterly earnings results on Wednesday, June 21st. The business services provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $735.10 million during the quarter, compared to analysts’ expectations of $743.27 million. Steelcase had a net margin of 4.04% and a return on equity of 16.37%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. On average, analysts expect Steelcase to post $0.96 EPS for the current fiscal year and $1.14 EPS for the next fiscal year.
Steelcase Inc. (NYSE:SCS) opened at 13.55 on Monday. The company has a 50-day moving average price of $13.32 and a 200-day moving average price of $15.44. The stock has a market cap of $1.60 billion, a P/E ratio of 13.26 and a beta of 1.18. Steelcase Inc. has a one year low of $12.50 and a one year high of $18.15.
A number of equities research analysts recently weighed in on the company. UBS AG downgraded Steelcase from a “strong-buy” rating to an “outperform” rating in a research report on Friday, June 23rd. Sidoti raised Steelcase from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, September 1st. ValuEngine downgraded Steelcase from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised Steelcase from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, BidaskClub downgraded Steelcase from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $17.00.
In related news, Director Peter M. Wege II sold 14,400 shares of Steelcase stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $13.81, for a total transaction of $198,864.00. Following the sale, the director now directly owns 270,180 shares of the company’s stock, valued at $3,731,185.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 18.87% of the stock is owned by company insiders.
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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