Steelcase (SCS) to Release Quarterly Earnings on Wednesday

Steelcase (NYSE:SCS) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, June 19th. Analysts expect the company to announce earnings of $0.19 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Tuesday, March 19th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The business had revenue of $912.00 million during the quarter, compared to the consensus estimate of $870.60 million. Steelcase had a return on equity of 16.47% and a net margin of 3.66%. Steelcase’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. On average, analysts expect Steelcase to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

NYSE:SCS opened at $17.13 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.99 billion, a P/E ratio of 14.28 and a beta of 1.32. Steelcase has a 52-week low of $13.10 and a 52-week high of $19.35.

SCS has been the subject of a number of research reports. Zacks Investment Research downgraded Steelcase from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 21st. Raymond James upgraded Steelcase from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $20.00 to $21.00 in a report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Steelcase currently has a consensus rating of “Buy” and a consensus price target of $19.00.

In other Steelcase news, VP Allan W. Smith, Jr. sold 12,233 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $17.15, for a total value of $209,795.95. Following the completion of the transaction, the vice president now directly owns 29,600 shares in the company, valued at $507,640. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Sara E. Armbruster sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $15.00, for a total value of $112,500.00. Following the completion of the transaction, the vice president now owns 48,038 shares of the company’s stock, valued at $720,570. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,565 shares of company stock valued at $3,767,208. Corporate insiders own 17.04% of the company’s stock.

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About Steelcase

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools.

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Earnings History for Steelcase (NYSE:SCS)

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