Steelcase (NYSE:SCS) Updates Q3 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.21-0.25 for the period, compared to the consensus EPS estimate of $0.23. The company issued revenue guidance of $785-810 million, compared to the consensus revenue estimate of $812.08 million. Steelcase also updated its FY 2025 guidance to 1.000-1.000 EPS.

Wall Street Analyst Weigh In

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

Steelcase Trading Up 0.8 %

Shares of SCS stock opened at $14.12 on Thursday. The business has a 50-day moving average of $13.51 and a 200 day moving average of $13.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.15. Steelcase has a 1-year low of $8.74 and a 1-year high of $14.74. The stock has a market capitalization of $1.61 billion, a PE ratio of 18.58, a P/E/G ratio of 1.34 and a beta of 1.33.

Steelcase (NYSE:SCS) last released its quarterly earnings data on Wednesday, September 18th. The business services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Steelcase had a return on equity of 13.66% and a net margin of 2.89%. The firm had revenue of $855.80 million during the quarter, compared to analyst estimates of $864.17 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Steelcase will post 1 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Allan W. Smith, Jr. sold 70,444 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $13.84, for a total transaction of $974,944.96. Following the completion of the transaction, the senior vice president now directly owns 184,743 shares of the company’s stock, valued at $2,556,843.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Allan W. Smith, Jr. sold 70,444 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $13.84, for a total value of $974,944.96. Following the completion of the sale, the senior vice president now owns 184,743 shares of the company’s stock, valued at $2,556,843.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David C. Sylvester sold 73,184 shares of Steelcase stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $13.84, for a total transaction of $1,012,866.56. Following the sale, the chief financial officer now directly owns 551,592 shares in the company, valued at approximately $7,634,033.28. The disclosure for this sale can be found here. Insiders have sold a total of 174,187 shares of company stock valued at $2,410,861 in the last quarter. Insiders own 12.96% of the company’s stock.

Steelcase Company Profile

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.