Steelcase (NYSE:SCS) Issues Q1 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.13-0.17 for the period, compared to the consensus EPS estimate of $0.11. The company issued revenue guidance of $760-785 million, compared to the consensus revenue estimate of $738.48 million.

Steelcase Stock Performance

Shares of NYSE SCS traded up $0.04 during mid-day trading on Wednesday, hitting $10.62. The company had a trading volume of 1,095,630 shares, compared to its average volume of 611,261. The stock’s 50-day moving average price is $11.63 and its 200-day moving average price is $12.38. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.25 and a beta of 1.33. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. Steelcase has a 1 year low of $10.31 and a 1 year high of $14.74.

Steelcase (NYSE:SCS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $788.00 million for the quarter, compared to analysts’ expectations of $790.90 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts forecast that Steelcase will post 1 earnings per share for the current year.

Insider Buying and Selling at Steelcase

In other news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the sale, the vice president now owns 114,481 shares in the company, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 12.96% of the company’s stock.

Steelcase Company Profile

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.