Steelcase (NYSE:SCS) released its quarterly earnings results on Tuesday, December 19th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22, Briefing.com reports. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The firm had revenue of $772.10 million for the quarter, compared to analysts’ expectations of $762.37 million. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Steelcase updated its Q4 guidance to $0.14-0.18 EPS.
Shares of Steelcase (SCS) traded down $0.30 on Friday, reaching $15.40. 1,030,247 shares of the company’s stock traded hands, compared to its average volume of 849,078. Steelcase has a 52 week low of $12.50 and a 52 week high of $18.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.23 and a current ratio of 1.58. The firm has a market cap of $1,780.00, a PE ratio of 17.30 and a beta of 1.25.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.51 annualized dividend and a yield of 3.31%. Steelcase’s dividend payout ratio (DPR) is presently 57.30%.
A number of equities research analysts recently issued reports on SCS shares. TheStreet raised shares of Steelcase from a “c+” rating to a “b-” rating in a research note on Tuesday, October 3rd. Zacks Investment Research cut shares of Steelcase from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, Sidoti cut shares of Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research note on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.00.
In other Steelcase news, Director Peter M. Wege II sold 13,300 shares of Steelcase stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $15.14, for a total transaction of $201,362.00. Following the sale, the director now owns 254,244 shares of the company’s stock, valued at approximately $3,849,254.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sara E. Armbruster sold 3,000 shares of Steelcase 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 sale, the vice president now directly owns 69,870 shares in the company, valued at approximately $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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Steelcase Company Profile
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.
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