Steelcase (NYSE:SCS) Announces Quarterly Earnings Results

Steelcase (NYSE:SCS) released its quarterly earnings results on Tuesday. The business services provider reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.04), MarketWatch Earnings reports. The company had revenue of $482.80 million during the quarter, compared to the consensus estimate of $530.33 million. Steelcase had a net margin of 5.36% and a return on equity of 19.81%. The firm’s revenue was down 41.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share.

Shares of SCS opened at $12.06 on Wednesday. Steelcase has a 12 month low of $7.02 and a 12 month high of $23.02. The firm’s 50 day moving average is $11.65 and its 200-day moving average is $14.51. The stock has a market capitalization of $1.40 billion, a PE ratio of 7.27 and a beta of 1.61. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.72.

Several research analysts have weighed in on the stock. Sidoti increased their price target on shares of Steelcase from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, June 1st. Benchmark began coverage on shares of Steelcase in a report on Friday, May 22nd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $18.67.

Steelcase Company Profile

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.

Featured Article: What is a Tariff?

Earnings History for Steelcase (NYSE:SCS)

Receive News & Ratings for Steelcase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steelcase and related companies with MarketBeat.com's FREE daily email newsletter.