Brokerages expect that Steelcase Inc. (NYSE:SCS) will announce earnings of $0.24 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Steelcase’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.23. Steelcase posted earnings of $0.34 per share during the same quarter last year, which would indicate a negative year over year growth rate of 29.4%. The company is scheduled to issue its next quarterly earnings report on Tuesday, December 19th.

On average, analysts expect that Steelcase will report full year earnings of $0.93 per share for the current year, with EPS estimates ranging from $0.90 to $0.96. For the next year, analysts expect that the business will post earnings of $1.12 per share, with EPS estimates ranging from $1.10 to $1.14. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Steelcase.

Steelcase (NYSE:SCS) last issued its quarterly earnings results on Monday, September 18th. The business services provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. Steelcase had a return on equity of 15.72% and a net margin of 3.98%. The company had revenue of $775.60 million for the quarter, compared to analyst estimates of $759.83 million. During the same quarter in the prior year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year.

A number of analysts have recently commented on SCS shares. TheStreet downgraded Steelcase from a “b-” rating to a “c+” rating in a report on Thursday, July 20th. BidaskClub downgraded Steelcase from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Zacks Investment Research upgraded Steelcase from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. ValuEngine downgraded Steelcase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Sidoti upgraded Steelcase from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Steelcase presently has an average rating of “Hold” and a consensus price target of $16.00.

Steelcase (NYSE:SCS) opened at $13.90 on Wednesday. Steelcase has a 52 week low of $12.50 and a 52 week high of $18.15. The firm has a market capitalization of $1,610.00, a price-to-earnings ratio of 13.43 and a beta of 1.22. The company has a current ratio of 1.63, a quick ratio of 1.28 and a debt-to-equity ratio of 0.37.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in Steelcase by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,352,061 shares of the business services provider’s stock valued at $46,929,000 after purchasing an additional 31,353 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Steelcase by 9.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,340,478 shares of the business services provider’s stock valued at $32,766,000 after purchasing an additional 195,864 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Steelcase by 15.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 755,525 shares of the business services provider’s stock valued at $12,656,000 after purchasing an additional 99,692 shares in the last quarter. Vanguard Group Inc. increased its holdings in Steelcase by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 7,590,595 shares of the business services provider’s stock valued at $127,143,000 after purchasing an additional 659,548 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Steelcase by 65.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 370,870 shares of the business services provider’s stock valued at $5,193,000 after purchasing an additional 147,323 shares in the last quarter. Hedge funds and other institutional investors own 60.00% of the company’s stock.

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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Earnings History and Estimates for Steelcase (NYSE:SCS)

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