Steelcase (NYSE:SCS) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.14-0.18 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.23. The company issued revenue guidance of $740-765 million, compared to the consensus revenue estimate of $762.37 million.
Several research firms have recently issued reports on SCS. Sidoti lowered shares of Steelcase from a buy rating to a neutral rating and set a $16.00 target price for the company. in a report on Wednesday, September 20th. Zacks Investment Research lowered shares of Steelcase from a hold rating to a sell rating in a report on Tuesday, December 12th. Finally, TheStreet raised shares of Steelcase from a c+ rating to a b- rating in a research note on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $16.00.
Steelcase (NYSE:SCS) traded down $0.30 during midday trading on Friday, reaching $15.40. 1,030,247 shares of the company’s stock were exchanged, compared to its average volume of 849,078. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1,780.00, a P/E ratio of 17.30 and a beta of 1.25. Steelcase has a 1-year low of $12.50 and a 1-year high of $18.15.
Steelcase (NYSE:SCS) last posted its earnings results on Tuesday, December 19th. The business services provider reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The business had revenue of $772.10 million for the quarter, compared to the consensus estimate of $762.37 million. During the same quarter last year, the firm posted $0.30 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. equities research analysts expect that Steelcase will post 0.81 earnings per share for the current 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 issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Thursday, December 28th. Steelcase’s dividend payout ratio is currently 57.30%.
In related news, Director Peter M. Wege II sold 13,300 shares of Steelcase stock in a transaction that occurred 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 in the company, valued at approximately $3,849,254.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sara E. Armbruster sold 3,000 shares of Steelcase stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $14.80, for a total transaction of $44,400.00. Following the sale, the vice president now owns 69,870 shares of the company’s stock, valued at $1,034,076. The disclosure for this sale can be found here. 18.87% of the stock is currently owned by company insiders.
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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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