Steelcase (NYSE:SCS) Issues Earnings Results

Steelcase (NYSE:SCS) announced its quarterly earnings results on Wednesday. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02, Briefing.com reports. Steelcase had a return on equity of 13.66% and a net margin of 2.89%. The business had revenue of $855.80 million for the quarter, compared to analyst estimates of $864.17 million. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis.

Steelcase Stock Down 1.5 %

Steelcase stock traded down $0.20 during trading on Friday, reaching $13.11. The stock had a trading volume of 253,944 shares, compared to its average volume of 709,750. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. Steelcase has a 52-week low of $10.29 and a 52-week high of $14.74. The stock has a market cap of $1.50 billion, a PE ratio of 17.51, a P/E/G ratio of 1.39 and a beta of 1.33. The business has a 50 day moving average price of $13.53 and a 200 day moving average price of $13.04.

Steelcase Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.05%. Steelcase’s dividend payout ratio (DPR) is 52.63%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Steelcase

In other news, 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 sale, the vice president now owns 78,733 shares of the company’s stock, valued at approximately $1,080,216.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Donna K. Flynn sold 13,310 shares of the company’s 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 sale, the vice president now directly owns 78,733 shares of the company’s stock, valued at approximately $1,080,216.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David C. Sylvester sold 73,184 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $13.84, for a total value of $1,012,866.56. Following the completion of the sale, the chief financial officer now owns 551,592 shares of the company’s stock, valued at approximately $7,634,033.28. The disclosure for this sale can be found here. In 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.

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.