Steelcase Inc. (SCS) Expected to Post Quarterly Sales of $801.10 Million
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 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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