Steelcase (NYSE:SCS) Posts Earnings Results, Beats Estimates By $0.02 EPS

Steelcase (NYSE:SCS) announced its earnings results on Wednesday. The business services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02, Briefing.com reports. The firm had revenue of $855.80 million for the quarter, compared to the consensus estimate of $864.17 million. Steelcase had a return on equity of 13.66% and a net margin of 2.89%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS.

Steelcase Trading Down 5.7 %

Shares of SCS stock opened at $13.31 on Friday. Steelcase has a 52-week low of $9.63 and a 52-week high of $14.74. The business’s fifty day moving average is $13.53 and its 200 day moving average is $13.03. 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 company has a market capitalization of $1.52 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, VP Donna K. Flynn sold 13,310 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $13.72, for a total value of $182,613.20. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. In other 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 transaction, the vice president now owns 78,733 shares in the company, valued at $1,080,216.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Allan W. Smith, Jr. sold 70,444 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was 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 owns 184,743 shares of the company’s stock, valued at $2,556,843.12. 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 currently 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.