Steelcase (NYSE:SCS) Releases Q4 Earnings Guidance

Steelcase (NYSE:SCS) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.20-0.24 for the period, compared to the consensus earnings per share estimate of $0.22. The company issued revenue guidance of $770-795 million, compared to the consensus revenue estimate of $834.64 million.

Steelcase Trading Down 4.5 %

NYSE SCS traded down $0.59 during trading hours on Wednesday, hitting $12.46. 1,193,718 shares of the company were exchanged, compared to its average volume of 666,152. The stock has a market cap of $1.42 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. Steelcase has a 52 week low of $11.50 and a 52 week high of $14.74. The stock has a 50-day moving average price of $13.04 and a 200 day moving average price of $13.17. The company has a quick ratio of 1.23, a current ratio of 1.62 and a debt-to-equity ratio of 0.48.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $796.58 million. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. Steelcase’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. Analysts forecast that Steelcase will post 1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Noble Financial began coverage on shares of Steelcase in a research report on Wednesday, October 9th. They set an “outperform” rating and a $16.00 target price on the stock.

Insider Transactions at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total value of $52,440.00. Following the transaction, the vice president now directly owns 119,481 shares of the company’s stock, valued at $1,566,395.91. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 12.96% of the company’s stock.

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.