News stories about Steelcase (NYSE:SCS) have trended somewhat positive on Sunday, according to Accern. The research group identifies negative and positive news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Steelcase earned a media sentiment score of 0.02 on Accern’s scale. Accern also assigned news articles about the business services provider an impact score of 47.0498458047514 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
SCS has been the subject of several research reports. Sidoti downgraded shares of Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Wednesday, September 20th. Zacks Investment Research downgraded shares of Steelcase from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, TheStreet upgraded shares of Steelcase from a “c+” rating to a “b-” rating in a research note on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Steelcase has a consensus rating of “Hold” and a consensus price target of $16.00.
Steelcase (SCS) traded down $0.30 during mid-day trading on Friday, hitting $15.40. 1,030,000 shares of the company were exchanged, compared to its average volume of 854,089. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.23 and a current ratio of 1.58. Steelcase has a 1-year low of $12.50 and a 1-year high of $18.15. The firm has a market cap of $1,790.00, a PE ratio of 17.30 and a beta of 1.25.
Steelcase (NYSE:SCS) last posted its quarterly earnings data on Tuesday, December 19th. The business services provider reported $0.22 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The company had revenue of $772.10 million during the quarter, compared to analyst estimates of $762.37 million. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. analysts expect that Steelcase will post 0.81 earnings per share for the current fiscal year.
The company also recently announced 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 dividend yield of 3.31%. The ex-dividend date is Thursday, December 28th. Steelcase’s payout ratio is 57.30%.
In related news, Director Peter M. Wege II sold 13,300 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $15.14, for a total transaction of $201,362.00. Following the transaction, the director now owns 254,244 shares of the company’s stock, valued at $3,849,254.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sara E. Armbruster sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $14.80, for a total transaction of $44,400.00. Following the transaction, 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. Company insiders own 18.87% of the company’s stock.
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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.
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