Steelcase (NYSE:SCS) Updates Q4 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.14-0.18 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.23. The company issued revenue guidance of $740-765 million, compared to the consensus revenue estimate of $762.37 million.

Steelcase (NYSE SCS) traded up $0.55 during trading on Thursday, reaching $15.70. 527,861 shares of the company were exchanged, compared to its average volume of 826,447. The stock has a market cap of $1,780.00, a price-to-earnings ratio of 17.64 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 has a fifty-two week low of $12.50 and a fifty-two week high of $18.15.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be given a dividend of $0.1275 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.25%. Steelcase’s dividend payout ratio (DPR) is currently 57.30%.

A number of analysts have recently issued reports on SCS shares. TheStreet raised shares of Steelcase from a c+ rating to a b- rating in a report on Tuesday, October 3rd. Sidoti downgraded shares of Steelcase from a buy rating to a neutral rating and set a $16.00 price objective for the company. in a report on Wednesday, September 20th. Finally, Zacks Investment Research downgraded shares of Steelcase from a hold rating to a sell rating in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $16.00.

In other Steelcase news, Director Peter M. Wege II sold 13,300 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $15.14, for a total value of $201,362.00. Following the completion of the sale, the director now directly owns 254,244 shares of the company’s stock, valued at $3,849,254.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sara E. Armbruster sold 3,000 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $14.80, for a total transaction of $44,400.00. Following the completion of the sale, the vice president now directly owns 69,870 shares of the company’s stock, valued at $1,034,076. The disclosure for this sale can be found here. Insiders own 18.87% of the company’s stock.

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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.

Earnings History and Estimates for Steelcase (NYSE:SCS)

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