Steelcase Inc. (SCS) Given Consensus Rating of “Hold” by Brokerages

Steelcase Inc. (NYSE:SCS) has been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.00.

A number of analysts recently issued reports on SCS shares. TheStreet raised Steelcase from a “c+” rating to a “b-” rating in a research report on Tuesday, October 3rd. Zacks Investment Research downgraded Steelcase from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Sidoti downgraded Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Wednesday, September 20th.

Steelcase (NYSE:SCS) traded down $0.05 on Tuesday, hitting $15.15. The company’s stock had a trading volume of 908,609 shares, compared to its average volume of 837,017. Steelcase has a 1 year low of $12.50 and a 1 year high of $18.15. The firm has a market cap of $1,770.00, a P/E ratio of 17.02 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.58 and a quick ratio of 1.23.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Tuesday, December 19th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. Steelcase had a return on equity of 13.62% and a net margin of 3.49%. The firm had revenue of $772.10 million for the quarter, compared to the consensus estimate of $762.37 million. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. research analysts expect that Steelcase will post 0.81 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors 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 3.37%. The ex-dividend date is Thursday, December 28th. Steelcase’s dividend payout ratio is currently 57.30%.

In related news, Director Peter M. Wege II sold 13,300 shares of Steelcase stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $15.14, for a total value of $201,362.00. Following the sale, 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 available through this hyperlink. Also, VP Sara E. Armbruster sold 3,000 shares of Steelcase stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $14.80, for a total value of $44,400.00. Following the completion of the sale, the vice president now directly owns 69,870 shares in the company, valued at approximately $1,034,076. The disclosure for this sale can be found here. 18.87% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in SCS. 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 buying 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 buying an additional 337,467 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Steelcase by 8.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,630,186 shares of the business services provider’s stock worth $55,905,000 after buying an additional 278,125 shares during the last quarter. Walthausen & Co. LLC increased its position in Steelcase by 63.0% during the third quarter. Walthausen & Co. LLC now owns 582,052 shares of the business services provider’s stock worth $8,964,000 after buying an additional 225,066 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in Steelcase during the third quarter worth approximately $2,873,000. 62.15% of the stock is currently owned by institutional investors and hedge funds.

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About Steelcase

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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