Steelcase (SCS) to Release Quarterly Earnings on Wednesday

Steelcase (NYSE:SCS) will be posting its quarterly earnings results after the market closes on Wednesday, September 18th. Analysts expect Steelcase to post earnings of $0.37 per share for the quarter. Steelcase has set its Q2 guidance at $0.36-0.40 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Thursday, June 20th. The business services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. The firm had revenue of $727.30 million for the quarter, compared to the consensus estimate of $729.05 million. Steelcase had a net margin of 2.89% and a return on equity of 13.66%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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 Price Performance

Steelcase stock opened at $13.79 on Monday. The business has a 50 day simple moving average of $13.46 and a 200 day simple moving average of $13.02. Steelcase has a one year low of $8.66 and a one year high of $14.74. The company has a market capitalization of $1.57 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.33. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $0.40 annualized dividend and a yield of 2.90%. Steelcase’s dividend payout ratio (DPR) is 52.63%.

Wall Street Analyst Weigh In

Separately, Benchmark boosted 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.

Insiders Place Their Bets

In other news, CFO David C. Sylvester sold 73,184 shares of Steelcase stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $13.84, for a total transaction of $1,012,866.56. Following the completion of the sale, the chief financial officer now owns 551,592 shares of the company’s stock, valued at $7,634,033.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO David C. Sylvester sold 73,184 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $13.84, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donna K. Flynn sold 13,310 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $13.72, for a total transaction of $182,613.20. Following the completion of the transaction, the vice president now owns 78,733 shares of the company’s stock, valued at $1,080,216.76. The disclosure for this sale can be found here. Insiders have sold 174,187 shares of company stock valued at $2,410,861 in the last 90 days. 12.96% of the stock is currently owned by insiders.

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.