Steelcase (NYSE:SCS) is scheduled to announce its earnings results after the market closes on Thursday, September 19th. Analysts expect the company to announce earnings of $0.43 per share for the quarter.
Steelcase (NYSE:SCS) last issued its quarterly earnings results on Wednesday, June 19th. The business services provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Steelcase had a net margin of 3.61% and a return on equity of 16.35%. The company had revenue of $824.30 million during the quarter, compared to the consensus estimate of $839.07 million. During the same period last year, the company earned $0.14 earnings per share. Steelcase’s revenue for the quarter was up 9.3% on a year-over-year basis. 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 $16.57 on Thursday. The firm’s 50-day moving average is $15.98 and its 200-day moving average is $16.53. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 13.81 and a beta of 1.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.57. Steelcase has a 52-week low of $13.96 and a 52-week high of $19.35.
In other news, VP Sara E. Armbruster sold 5,000 shares of Steelcase stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $17.30, for a total transaction of $86,500.00. Following the sale, the vice president now directly owns 54,538 shares in the company, valued at approximately $943,507.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Keane sold 100,000 shares of Steelcase stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $17.45, for a total transaction of $1,745,000.00. Following the sale, the chief executive officer now owns 808,927 shares in the company, valued at $14,115,776.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,037 shares of company stock worth $2,557,519. 17.04% of the stock is currently owned by company insiders.
Several equities research analysts recently weighed in on the stock. Seaport Global Securities cut shares of Steelcase from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 17th. Zacks Investment Research lowered Steelcase from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Steelcase currently has a consensus rating of “Hold” and an average target price of $19.00.
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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