Steelcase (NYSE:SCS – Get Free Report) announced its quarterly earnings results on Wednesday. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02, Briefing.com reports. Steelcase had a net margin of 2.89% and a return on equity of 13.66%. The company had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $864.17 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. Steelcase’s quarterly revenue was up .1% on a year-over-year basis.
Steelcase Price Performance
NYSE SCS opened at $14.12 on Thursday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 18.57, a PEG 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 has a 1-year low of $8.74 and a 1-year high of $14.74. The business’s fifty day moving average price is $13.51 and its 200-day moving average price is $13.03.
Insiders Place Their Bets
In related news, VP Donna K. Flynn sold 13,310 shares of the business’s stock in a transaction that occurred on 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 directly owns 78,733 shares in the company, valued at approximately $1,080,216.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Steelcase news, SVP Allan W. Smith, Jr. sold 70,444 shares of Steelcase stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donna K. Flynn sold 13,310 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $13.72, for a total transaction of $182,613.20. Following 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. Over the last three months, insiders have sold 174,187 shares of company stock valued at $2,410,861. Insiders own 12.96% of the company’s stock.
Analysts Set New Price Targets
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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.
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