Steelcase (NYSE:SCS) Releases FY25 Earnings Guidance

Steelcase (NYSE:SCS) updated its FY25 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.85-1.00 for the period, compared to the consensus estimate of $0.92. Steelcase also updated its FY 2025 guidance to 0.850-1.000 EPS.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Steelcase from a strong-buy rating to a buy rating in a report on Thursday.

Steelcase Stock Performance

SCS opened at $12.15 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $12.84 and its two-hundred day moving average price is $12.01. Steelcase has a 1-year low of $6.39 and a 1-year high of $14.54. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.35 and a beta of 1.35.

Steelcase (NYSE:SCS) last released its quarterly earnings data on Wednesday, March 20th. The business services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $775.20 million for the quarter, compared to the consensus estimate of $780.25 million. Steelcase had a net margin of 2.57% and a return on equity of 13.00%. The business’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. On average, analysts expect that Steelcase will post 0.91 EPS for the current fiscal year.

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.40 annualized dividend and a dividend yield of 3.29%. Steelcase’s dividend payout ratio is currently 58.82%.

Insider Activity

In other news, VP Robert G. Krestakos sold 3,800 shares of the stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $13.83, for a total value of $52,554.00. Following the completion of the sale, the vice president now owns 110,489 shares in the company, valued at $1,528,062.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Steelcase

A number of large investors have recently added to or reduced their stakes in SCS. Goldman Sachs Group Inc. boosted its position in Steelcase by 156.4% during the second quarter. Goldman Sachs Group Inc. now owns 1,931,500 shares of the business services provider’s stock worth $14,892,000 after purchasing an additional 1,178,302 shares during the period. Vanguard Group Inc. boosted its position in Steelcase by 15.3% during the third quarter. Vanguard Group Inc. now owns 8,705,377 shares of the business services provider’s stock worth $56,759,000 after purchasing an additional 1,152,299 shares during the period. BlackRock Inc. boosted its position in Steelcase by 14.3% during the second quarter. BlackRock Inc. now owns 8,350,989 shares of the business services provider’s stock worth $64,386,000 after purchasing an additional 1,042,474 shares during the period. Invesco Ltd. boosted its position in Steelcase by 82.7% during the first quarter. Invesco Ltd. now owns 1,765,272 shares of the business services provider’s stock worth $21,095,000 after purchasing an additional 799,202 shares during the period. Finally, Norges Bank bought a new position in Steelcase during the fourth quarter worth about $4,916,000. Hedge funds and other institutional investors own 69.51% of the company’s stock.

About Steelcase

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.