Steelcase (NYSE:SCS) released its quarterly earnings results on Tuesday. The business services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08, Briefing.com reports. The company had revenue of $772.70 million for the quarter, compared to analysts’ expectations of $750.70 million. Steelcase had a return on equity of 13.62% and a net margin of 3.49%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. Steelcase updated its Q1 guidance to $0.12-0.16 EPS.
Shares of SCS stock opened at $14.10 on Wednesday. The stock has a market capitalization of $1,649.12, a price-to-earnings ratio of 15.78 and a beta of 1.28. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36. Steelcase has a 52 week low of $12.50 and a 52 week high of $18.15.
In other news, VP Sara E. Armbruster sold 3,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $14.80, for a total value of $44,400.00. Following the sale, the vice president now directly owns 69,870 shares in the company, valued at $1,034,076. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter M. Wege II sold 13,300 shares of the 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 owns 254,244 shares in the company, valued at $3,849,254.16. The disclosure for this sale can be found here. 18.87% of the stock is currently owned by company insiders.
Separately, Zacks Investment Research cut Steelcase from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $16.00.
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Steelcase Inc manufactures and sells integrated portfolio of furniture settings, user-centered technologies, and interior architectural products. The company operates through Americas, EMEA, and Other Category segments. Its furniture systems portfolio comprises panel-based and freestanding furniture systems, storage, desks, benches, tables, and complementary products, such as worktools.
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