Steelcase Inc. (NYSE:SCS) VP Allan W. Smith, Jr. sold 12,233 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $17.15, for a total transaction of $209,795.95. Following the transaction, the vice president now owns 29,600 shares of the company’s stock, valued at approximately $507,640. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
NYSE:SCS opened at $16.92 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.59 and a quick ratio of 1.22. The company has a market cap of $2.03 billion, a P/E ratio of 14.10 and a beta of 1.33. Steelcase Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $19.35.
Steelcase (NYSE:SCS) last posted its quarterly earnings data on Tuesday, March 19th. The business services provider reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. Steelcase had a net margin of 3.66% and a return on equity of 16.47%. The firm had revenue of $912.00 million during the quarter, compared to analysts’ expectations of $870.60 million. During the same quarter last year, the company posted $0.24 EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, equities analysts forecast that Steelcase Inc. will post 1.3 EPS for the current year.
Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Steelcase from a “sell” rating to a “hold” rating in a research note on Saturday, April 6th. Raymond James raised shares of Steelcase from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $20.00 to $21.00 in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.00.
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Steelcase Company Profile
Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools.
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