Steelcase (NYSE:SCS) Updates Q3 Earnings Guidance

Steelcase (NYSE:SCS) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.21-0.25 for the period, compared to the consensus 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.

Steelcase Stock Up 0.7 %

Shares of SCS stock traded up $0.10 on Wednesday, hitting $14.11. The stock had a trading volume of 1,367,132 shares, compared to its average volume of 704,586. Steelcase has a 52-week low of $8.74 and a 52-week high of $14.74. The firm has a market capitalization 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 company has a debt-to-equity ratio of 0.51, a quick ratio of 1.15 and a current ratio of 1.61. The stock’s 50 day moving average is $13.51 and its 200-day moving average is $13.03.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Thursday, June 20th. The business services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. Steelcase had a net margin of 2.89% and a return on equity of 13.66%. The company had revenue of $727.30 million during the quarter, compared to analysts’ expectations of $729.05 million. During the same period in the prior year, the company posted $0.09 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, research analysts expect that Steelcase will post 1 earnings per share for the current year.

Steelcase Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Steelcase

In related news, VP Donna K. Flynn sold 13,310 shares of Steelcase stock in a transaction dated 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 in the company, valued at $1,080,216.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Steelcase news, CAO Nicole Cherie Mcgrath sold 15,749 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $13.94, for a total transaction of $219,541.06. Following the completion of the sale, the chief accounting officer now owns 18,453 shares in the company, valued at $257,234.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Donna K. Flynn sold 13,310 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was 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 in the company, valued at $1,080,216.76. The disclosure for this sale can be found here. Insiders have sold 174,187 shares of company stock worth $2,410,861 in the last ninety days. 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.