Steelcase Inc. (SCS) To Go Ex-Dividend on April 7th

Steelcase Inc. (NYSE:SCS) announced a quarterly dividend on Wednesday, March 26th, Wall Street Journal reports. Shareholders of record on Monday, April 7th will be paid a dividend of 0.10 per share by the business services provider on Monday, April 21st. This represents a $0.40 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Monday, April 7th.

Steelcase has decreased its dividend by an average of 9.2% annually over the last three years. Steelcase has a dividend payout ratio of 32.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Steelcase to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 37.7%.

Steelcase Trading Down 0.4 %

SCS stock opened at $10.69 on Friday. Steelcase has a one year low of $10.25 and a one year high of $14.74. The company has a market capitalization of $1.22 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The company’s 50 day moving average price is $11.54 and its two-hundred day moving average price is $12.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57.

Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. During the same period in the prior year, the business earned $0.23 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts predict that Steelcase will post 1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Sidoti raised shares of Steelcase to a “hold” rating in a research note on Friday, March 28th.

Insider Buying and Selling

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the business’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 completion of the sale, the vice president now directly owns 114,481 shares in the company, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.96% of the stock is owned by corporate insiders.

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.