Steelcase (NYSE:SCS) Releases FY 2025 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.850-1.000 for the period, compared to the consensus estimate of 0.920. The company issued revenue guidance of -. Steelcase also updated its FY25 guidance to $0.85-1.00 EPS.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Steelcase from a buy rating to a strong-buy rating in a research note on Tuesday, December 26th.

Steelcase Stock Performance

Shares of NYSE:SCS traded up $0.19 during midday trading on Wednesday, reaching $13.06. 1,066,607 shares of the company traded hands, compared to its average volume of 727,209. The firm’s fifty day moving average price is $12.86 and its two-hundred day moving average price is $11.98. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.51. Steelcase has a 12 month low of $6.39 and a 12 month high of $14.54.

Steelcase (NYSE:SCS) last announced its quarterly earnings results on Wednesday, December 20th. The business services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. Steelcase had a return on equity of 12.57% and a net margin of 2.37%. The firm had revenue of $777.90 million for the quarter, compared to analysts’ expectations of $796.35 million. During the same period in the prior year, the business posted $0.20 earnings per share. The company’s revenue was down 5.9% on a year-over-year basis. On average, equities analysts expect that Steelcase will post 0.78 earnings per share for the current year.

Insider Activity

In other Steelcase news, VP Robert G. Krestakos sold 3,800 shares of the company’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $13.83, for a total value of $52,554.00. Following the transaction, the vice president now directly owns 110,489 shares in the company, valued at approximately $1,528,062.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Robert G. Krestakos sold 3,800 shares of the stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $13.83, for a total value of $52,554.00. Following the transaction, the vice president now owns 110,489 shares of the company’s stock, valued at approximately $1,528,062.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David C. Sylvester sold 85,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $13.87, for a total transaction of $1,178,950.00. Following the sale, the chief financial officer now owns 570,809 shares in the company, valued at approximately $7,917,120.83. The disclosure for this sale can be found here. Insiders sold 90,592 shares of company stock worth $1,256,502 in the last three months. Corporate insiders own 12.72% of the company’s stock.

Hedge Funds Weigh In On Steelcase

A number of hedge funds and other institutional investors have recently modified their holdings of SCS. Advisor Group Holdings Inc. boosted its stake in Steelcase by 12.5% in the first quarter. Advisor Group Holdings Inc. now owns 36,070 shares of the business services provider’s stock worth $431,000 after buying an additional 3,999 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Steelcase by 32.8% during the 1st quarter. HighTower Advisors LLC now owns 14,724 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 3,635 shares during the last quarter. Natixis Advisors L.P. raised its position in Steelcase by 47.3% in the 1st quarter. Natixis Advisors L.P. now owns 29,323 shares of the business services provider’s stock worth $350,000 after purchasing an additional 9,422 shares during the period. MetLife Investment Management LLC lifted its stake in Steelcase by 51.8% in the first quarter. MetLife Investment Management LLC now owns 45,862 shares of the business services provider’s stock worth $548,000 after purchasing an additional 15,650 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Steelcase by 3.6% during the first quarter. BlackRock Inc. now owns 7,932,474 shares of the business services provider’s stock valued at $94,794,000 after buying an additional 277,505 shares during the period. 69.51% of the stock is currently owned by hedge funds and other institutional investors.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other 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, and mobile power and screens.