Steelcase (NYSE:SCS) Updates FY25 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.85-1.00 for the period, compared to the consensus estimate of $0.98. Steelcase also updated its FY 2025 guidance to 1.000-1.000 EPS.

Wall Street Analyst Weigh In

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

Steelcase Stock Performance

NYSE SCS traded up $0.10 on Wednesday, reaching $14.11. 1,288,899 shares of the company’s stock traded hands, compared to its average volume of 704,152. Steelcase has a fifty-two week low of $8.74 and a fifty-two week high of $14.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.15 and a current ratio of 1.61. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 1.34 and a beta of 1.33. The stock has a 50 day moving average price of $13.51 and a 200-day moving average price of $13.03.

Steelcase (NYSE:SCS) last issued its earnings results on Thursday, June 20th. The business services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. Steelcase had a return on equity of 13.66% and a net margin of 2.89%. The firm had revenue of $727.30 million for the quarter, compared to the consensus estimate of $729.05 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company’s revenue was down 3.3% compared to the same quarter last year. Equities research analysts predict that Steelcase will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Wednesday, July 3rd. Steelcase’s dividend payout ratio is currently 52.63%.

Insider Activity at Steelcase

In other Steelcase news, CAO Nicole Cherie Mcgrath sold 15,749 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $13.94, for a total value of $219,541.06. Following the completion of the transaction, the chief accounting officer now owns 18,453 shares in the company, valued at $257,234.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Nicole Cherie Mcgrath sold 15,749 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $13.94, for a total value of $219,541.06. Following the completion of the sale, the chief accounting officer now directly owns 18,453 shares in the company, valued at $257,234.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donna K. Flynn sold 13,310 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $13.72, for a total value of $182,613.20. Following the transaction, the vice president now owns 78,733 shares in the company, valued at approximately $1,080,216.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,187 shares of company stock worth $2,410,861. 12.96% of the stock is owned by company 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.