Equities analysts expect that Steelcase Inc. (NYSE:SCS) will announce $900.30 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Steelcase’s earnings. The lowest sales estimate is $899.40 million and the highest is $901.20 million. Steelcase reported sales of $772.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.6%. The company is expected to announce its next earnings report on Tuesday, December 18th.

According to Zacks, analysts expect that Steelcase will report full-year sales of $3.39 billion for the current financial year. For the next financial year, analysts forecast that the firm will post sales of $3.60 billion, with estimates ranging from $3.51 billion to $3.68 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Steelcase.

Steelcase (NYSE:SCS) last issued its earnings results on Friday, September 21st. The business services provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.12. Steelcase had a net margin of 2.89% and a return on equity of 13.97%. The firm had revenue of $875.80 million during the quarter, compared to analysts’ expectations of $873.70 million. During the same period last year, the firm posted $0.26 earnings per share. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Steelcase from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Raymond James increased their target price on shares of Steelcase from $16.50 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, September 24th. ValuEngine upgraded shares of Steelcase from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Seaport Global Securities upgraded shares of Steelcase from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Friday. Finally, TheStreet upgraded shares of Steelcase from a “c+” rating to a “b” rating in a research report on Friday, September 21st. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Steelcase currently has a consensus rating of “Buy” and a consensus target price of $20.33.

In other Steelcase news, Director Robert C. Pew III sold 16,291 shares of the firm’s stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $17.51, for a total value of $285,255.41. Following the sale, the director now directly owns 255,090 shares in the company, valued at approximately $4,466,625.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Allan W. Smith, Jr. sold 14,000 shares of the firm’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $18.54, for a total transaction of $259,560.00. Following the completion of the sale, the vice president now owns 31,490 shares in the company, valued at $583,824.60. The disclosure for this sale can be found here. Insiders sold a total of 57,791 shares of company stock worth $1,056,215 over the last 90 days. Company insiders own 17.58% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hartford Investment Management Co. bought a new position in Steelcase during the 2nd quarter valued at about $167,000. WBI Investments Inc. bought a new position in Steelcase during the 2nd quarter valued at about $173,000. Summit Trail Advisors LLC lifted its holdings in Steelcase by 2,012.0% during the 1st quarter. Summit Trail Advisors LLC now owns 180,007 shares of the business services provider’s stock valued at $180,000 after purchasing an additional 171,484 shares during the last quarter. Baldwin Brothers Inc. MA bought a new position in Steelcase during the 2nd quarter valued at about $184,000. Finally, Bayesian Capital Management LP bought a new position in Steelcase during the 1st quarter valued at about $204,000. Institutional investors own 63.70% of the company’s stock.

SCS stock traded down $0.21 during midday trading on Wednesday, reaching $16.44. The company had a trading volume of 1,500,385 shares, compared to its average volume of 632,960. Steelcase has a 1 year low of $13.10 and a 1 year high of $19.35. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 18.07 and a beta of 1.23.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be given a $0.135 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.54 annualized dividend and a yield of 3.28%. Steelcase’s dividend payout ratio is 59.34%.

About Steelcase

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as other products, including worktools.

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Earnings History and Estimates for Steelcase (NYSE:SCS)

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