Steelcase (NYSE:SCS – Get Free Report) released its quarterly earnings results on Thursday. The business services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.06, Briefing.com reports. Steelcase had a net margin of 2.57% and a return on equity of 12.87%. The business had revenue of $727.30 million for the quarter, compared to the consensus estimate of $729.05 million. During the same period last year, the firm earned $0.09 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Steelcase updated its Q2 guidance to $0.36-0.40 EPS.
Steelcase Stock Performance
Shares of NYSE SCS opened at $12.18 on Friday. The firm has a fifty day moving average price of $12.69 and a 200-day moving average price of $12.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.58 and a quick ratio of 1.20. The stock has a market cap of $1.40 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.35. Steelcase has a 1 year low of $7.10 and a 1 year high of $14.54.
Steelcase Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Wednesday, July 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.28%. Steelcase’s dividend payout ratio (DPR) is presently 58.82%.
Insider Transactions at Steelcase
Analyst Ratings Changes
Several research firms have weighed in on SCS. Benchmark increased their price target on shares of Steelcase from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com upgraded shares of Steelcase from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 29th.
Read Our Latest Research Report on SCS
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.
Read More
- Five stocks we like better than Steelcase
- How to invest in blue chip stocks
- Gilead Sciences Stock Surges on HIV Treatment Trial Success
- The How and Why of Investing in Gold Stocks
- Dell and Super Micro Computer: Musk’s Favorite AI Hardware Stocks
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Top 3 Home Builder Stocks: Key Insights into the Housing Market
Receive News & Ratings for Steelcase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steelcase and related companies with MarketBeat.com's FREE daily email newsletter.