Steelcase (NYSE:SCS) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Steelcase (NYSE:SCS) announced its quarterly earnings results on Wednesday. The business services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06, Zacks reports. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The firm had revenue of $788.00 million for the quarter, compared to analysts’ expectations of $790.90 million. During the same period in the previous year, the company posted $0.23 earnings per share. Steelcase’s revenue was up 1.7% compared to the same quarter last year. Steelcase updated its Q1 guidance to $0.13-0.17 EPS.

Steelcase Stock Up 0.3 %

Steelcase stock traded up $0.04 during trading on Wednesday, reaching $10.62. 1,114,153 shares of the company’s stock were exchanged, compared to its average volume of 611,284. Steelcase has a 52-week low of $10.31 and a 52-week high of $14.74. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The company’s 50-day moving average is $11.63 and its two-hundred day moving average is $12.38.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the completion of the transaction, the vice president now owns 114,481 shares in the company, valued at $1,344,006.94. This represents a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.96% of the stock is currently owned by corporate 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.