Wall Street analysts expect Steelcase Inc. (NYSE:SCS) to report sales of $801.10 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Steelcase’s earnings, with estimates ranging from $798.20 million to $804.00 million. Steelcase posted sales of $786.50 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The company is scheduled to report its next earnings report after the market closes on Tuesday, December 19th.

On average, analysts expect that Steelcase will report full year sales of $801.10 million for the current fiscal year, with estimates ranging from $3.10 billion to $3.11 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.24 billion per share, with estimates ranging from $3.20 billion to $3.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Steelcase.

Steelcase (NYSE:SCS) last issued its quarterly earnings data on Monday, September 18th. The business services provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.08. Steelcase had a return on equity of 15.72% and a net margin of 3.98%. The business had revenue of $775.60 million for the quarter, compared to analysts’ expectations of $759.83 million. During the same period last year, the business earned $0.32 EPS. The business’s revenue was up 2.3% on a year-over-year basis.

Several equities analysts have weighed in on SCS shares. Sidoti upgraded Steelcase from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Friday, September 1st. Zacks Investment Research upgraded Steelcase from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. TheStreet upgraded Steelcase from a “c+” rating to a “b-” rating in a research note on Tuesday, October 3rd. Finally, ValuEngine cut Steelcase from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $16.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in shares of Steelcase by 3.4% during the 2nd quarter. Amalgamated Bank now owns 10,913 shares of the business services provider’s stock worth $153,000 after purchasing an additional 358 shares during the period. Rhumbline Advisers increased its holdings in Steelcase by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 110,940 shares of the business services provider’s stock worth $1,553,000 after acquiring an additional 450 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Steelcase by 9.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,833 shares of the business services provider’s stock worth $152,000 after acquiring an additional 947 shares during the last quarter. Strs Ohio increased its holdings in Steelcase by 1.7% in the 2nd quarter. Strs Ohio now owns 59,200 shares of the business services provider’s stock worth $828,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Virtu KCG Holdings LLC increased its holdings in Steelcase by 5.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 31,174 shares of the business services provider’s stock worth $436,000 after acquiring an additional 1,480 shares during the last quarter. Institutional investors own 62.23% of the company’s stock.

Steelcase (NYSE:SCS) opened at $14.90 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.63. Steelcase has a 52 week low of $12.50 and a 52 week high of $18.15. The firm has a market capitalization of $1,723.10, a price-to-earnings ratio of 14.56 and a beta of 1.25.

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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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