Steelcase (NYSE:SCS) announced its earnings results on Tuesday, December 19th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.22, Briefing.com reports. 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 analyst estimates of $762.37 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Steelcase’s revenue was down 1.8% compared to the same quarter last year. Steelcase updated its Q4 guidance to $0.14-0.18 EPS.
Shares of Steelcase (SCS) opened at $15.15 on Thursday. The stock has a market cap of $1,760.00, a price-to-earnings ratio of 17.02 and a beta of 1.25. 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 fifty-two week low of $12.50 and a fifty-two week high of $18.15.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 3.37%. The ex-dividend date is Thursday, December 28th. Steelcase’s dividend payout ratio (DPR) is presently 57.30%.
In other news, Director Peter M. Wege II sold 13,300 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $15.14, for a total value of $201,362.00. Following the sale, the director now owns 254,244 shares of the company’s stock, valued at approximately $3,849,254.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sara E. Armbruster sold 3,000 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $14.80, for a total transaction of $44,400.00. Following the completion of the sale, the vice president now directly owns 69,870 shares in the company, valued at approximately $1,034,076. The disclosure for this sale can be found here. Insiders own 18.87% of the company’s stock.
A number of brokerages recently issued reports on SCS. TheStreet raised shares of Steelcase from a “c+” rating to a “b-” rating in a research report on Tuesday, October 3rd. Sidoti lowered shares of Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Wednesday, September 20th. Finally, Zacks Investment Research lowered shares of Steelcase from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.00.
TRADEMARK VIOLATION WARNING: “Steelcase (NYSE:SCS) Issues Quarterly Earnings Results, Meets Estimates” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/01/11/steelcase-scs-releases-quarterly-earnings-results-misses-expectations-by-0-06-eps.html.
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.
Receive News & Ratings for Steelcase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steelcase and related companies with MarketBeat.com's FREE daily email newsletter.