Zacks: Brokerages Expect Steelcase Inc. (NYSE:SCS) to Post $0.35 Earnings Per Share
Equities research analysts predict that Steelcase Inc. (NYSE:SCS) will post earnings per share of $0.35 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Steelcase’s earnings. Steelcase posted earnings of $0.36 per share in the same quarter last year, which would indicate a negative year over year growth rate of 2.8%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, December 17th.
On average, analysts expect that Steelcase will report full year earnings of $1.36 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.36. For the next year, analysts anticipate that the business will post earnings of $1.50 per share, with EPS estimates ranging from $1.45 to $1.54. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Steelcase.
Steelcase (NYSE:SCS) last released its earnings results on Friday, September 20th. The business services provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.07. Steelcase had a return on equity of 18.13% and a net margin of 3.80%. The company had revenue of $998.00 million during the quarter, compared to analysts’ expectations of $980.87 million. During the same quarter last year, the business posted $0.36 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year.
SCS stock traded up $0.12 on Monday, reaching $18.24. 650,100 shares of the company traded hands, compared to its average volume of 654,099. Steelcase has a one year low of $13.96 and a one year high of $19.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.20. The company has a market cap of $2.12 billion, a P/E ratio of 15.20 and a beta of 1.38. The firm has a fifty day simple moving average of $17.99 and a 200-day simple moving average of $17.07.
In related news, Director Peter M. Wege II sold 2,600 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $18.28, for a total transaction of $47,528.00. Following the completion of the transaction, the director now owns 230,444 shares of the company’s stock, valued at approximately $4,212,516.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Eddy F. Schmitt sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $18.95, for a total value of $473,750.00. Following the transaction, the vice president now directly owns 38,789 shares of the company’s stock, valued at approximately $735,051.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,300 shares of company stock valued at $754,203. 17.04% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. NEXT Financial Group Inc increased its holdings in shares of Steelcase by 22.2% in the 2nd quarter. NEXT Financial Group Inc now owns 4,400 shares of the business services provider’s stock worth $75,000 after purchasing an additional 800 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Steelcase by 7.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 14,573 shares of the business services provider’s stock worth $249,000 after purchasing an additional 1,064 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of Steelcase by 25.3% in the 2nd quarter. Advisor Group Inc. now owns 6,313 shares of the business services provider’s stock worth $108,000 after purchasing an additional 1,276 shares in the last quarter. Bailard Inc. increased its holdings in shares of Steelcase by 7.7% in the 3rd quarter. Bailard Inc. now owns 20,900 shares of the business services provider’s stock worth $385,000 after purchasing an additional 1,500 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Steelcase by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 135,512 shares of the business services provider’s stock worth $2,493,000 after purchasing an additional 1,619 shares in the last quarter. 67.48% of the stock is owned by institutional investors.
Steelcase Company Profile
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, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools.
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