Steelcase (SCS) Set to Announce Earnings on Wednesday

Steelcase (NYSE:SCS) will release its earnings data after the market closes on Wednesday, June 19th. Analysts expect Steelcase to post earnings of $0.10 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, March 20th. The business services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Steelcase had a return on equity of 12.87% and a net margin of 2.57%. The company had revenue of $775.20 million for the quarter, compared to analysts’ expectations of $780.25 million. During the same period in the previous year, the firm earned $0.19 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. On average, analysts expect Steelcase to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Steelcase Stock Up 0.8 %

NYSE SCS opened at $12.50 on Tuesday. The stock’s 50 day moving average is $12.69 and its 200 day moving average is $12.83. Steelcase has a 12 month low of $7.10 and a 12 month high of $14.54. The company has a current ratio of 1.58, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.43 billion, a PE ratio of 18.38, a P/E/G ratio of 1.35 and a beta of 1.35.

Steelcase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.20%. Steelcase’s payout ratio is currently 58.82%.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 4,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $12.61, for a total value of $50,440.00. Following the completion of the sale, the vice president now directly owns 108,081 shares of the company’s stock, valued at approximately $1,362,901.41. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.96% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SCS shares. StockNews.com raised shares of Steelcase from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 29th. Benchmark raised shares of Steelcase from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Friday.

About Steelcase

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.