Steelcase (SCS) to Release Earnings on Wednesday

Steelcase (NYSE:SCS) is set to issue its quarterly earnings data after the market closes on Wednesday, September 18th. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Steelcase has set its Q2 guidance at $0.36-0.40 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Steelcase (NYSE:SCS) last released its quarterly earnings data on Thursday, June 20th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. The firm had revenue of $727.30 million for the quarter, compared to analysts’ expectations of $729.05 million. Steelcase had a net margin of 2.89% and a return on equity of 13.66%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. On average, analysts expect Steelcase to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Steelcase Stock Up 1.2 %

NYSE SCS opened at $13.96 on Tuesday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.34 and a beta of 1.33. Steelcase has a 52 week low of $8.66 and a 52 week high of $14.74. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $13.48 and a two-hundred day moving average of $13.02.

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Wednesday, July 3rd were issued a $0.10 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 2.87%. Steelcase’s dividend payout ratio is presently 52.63%.

Analysts Set New Price Targets

Separately, Benchmark upped their price objective on shares of Steelcase from $17.00 to $18.00 and gave the company a “buy” rating in a report on Friday, June 21st.

Insider Activity at Steelcase

In related news, VP Donna K. Flynn sold 13,310 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $13.72, for a total value of $182,613.20. Following the completion of the transaction, the vice president now directly owns 78,733 shares of the company’s stock, valued at approximately $1,080,216.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Donna K. Flynn sold 13,310 shares of Steelcase stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $13.72, for a total value of $182,613.20. Following the sale, the vice president now directly owns 78,733 shares in the company, valued at $1,080,216.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Allan W. Smith, Jr. sold 70,444 shares of Steelcase stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $13.84, for a total value of $974,944.96. Following the sale, the senior vice president now directly owns 184,743 shares of the company’s stock, valued at approximately $2,556,843.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,187 shares of company stock valued at $2,410,861. 12.96% of the stock is owned by insiders.

About Steelcase

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