Equities research analysts predict that Steelcase Inc. (NYSE:SCS) will post $0.16 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Steelcase’s earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.15. Steelcase reported earnings per share of $0.22 in the same quarter last year, which indicates a negative year over year growth rate of 27.3%. The company is expected to issue its next earnings report on Tuesday, March 20th.

On average, analysts expect that Steelcase will report full-year earnings of $0.82 per share for the current financial year, with EPS estimates ranging from $0.81 to $0.82. For the next financial year, analysts anticipate that the firm will post earnings of $0.97 per share, with EPS estimates ranging from $0.92 to $1.01. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Steelcase.

Steelcase (NYSE:SCS) last announced its quarterly earnings results on Tuesday, December 19th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The company had revenue of $772.10 million for the quarter, compared to the consensus estimate of $762.37 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year.

Several analysts have issued reports on the stock. TheStreet raised shares of Steelcase from a “c+” rating to a “b-” rating in a report on Tuesday, October 3rd. Sidoti lowered shares of Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Wednesday, September 20th. Finally, Zacks Investment Research lowered shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Steelcase has an average rating of “Hold” and a consensus price target of $16.00.

In other news, Director Peter M. Wege II sold 13,300 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $15.14, for a total value of $201,362.00. Following the completion of the transaction, the director now owns 254,244 shares of the company’s stock, valued at $3,849,254.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sara E. Armbruster sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $14.80, for a total transaction of $44,400.00. Following the completion of the transaction, the vice president now directly owns 69,870 shares of the company’s stock, valued at approximately $1,034,076. The disclosure for this sale can be found here. Insiders own 18.87% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Steelcase by 8.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,630,186 shares of the business services provider’s stock valued at $55,905,000 after buying an additional 278,125 shares during the last quarter. Alliancebernstein L.P. increased its position in Steelcase by 2,481.3% during the second quarter. Alliancebernstein L.P. now owns 3,183,486 shares of the business services provider’s stock worth $44,569,000 after purchasing an additional 3,060,155 shares during the last quarter. LSV Asset Management increased its position in Steelcase by 20.3% during the second quarter. LSV Asset Management now owns 2,003,533 shares of the business services provider’s stock worth $28,049,000 after purchasing an additional 337,467 shares during the last quarter. State Street Corp increased its position in Steelcase by 5.1% during the second quarter. State Street Corp now owns 1,856,519 shares of the business services provider’s stock worth $25,994,000 after purchasing an additional 89,429 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Steelcase by 4.6% during the third quarter. Wells Fargo & Company MN now owns 1,576,764 shares of the business services provider’s stock worth $24,283,000 after purchasing an additional 68,659 shares during the last quarter. 62.20% of the stock is owned by institutional investors and hedge funds.

Shares of Steelcase (SCS) traded up $0.10 during midday trading on Friday, hitting $15.20. 704,176 shares of the company’s stock traded hands, compared to its average volume of 783,700. Steelcase has a 12 month low of $12.50 and a 12 month high of $18.15. The stock has a market capitalization of $1,770.00, a P/E ratio of 17.08 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, December 28th. Steelcase’s dividend payout ratio is presently 57.30%.

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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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