Steelcase (NYSE:SCS) Updates Q1 Earnings Guidance

Steelcase (NYSE:SCS) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.13-0.17 for the period, compared to the consensus EPS estimate of $0.11. The company issued revenue guidance of $760-785 million, compared to the consensus revenue estimate of $738.48 million.

Steelcase Stock Up 0.3 %

Shares of NYSE SCS traded up $0.04 on Wednesday, reaching $10.62. 1,114,153 shares of the company’s stock traded hands, compared to its average volume of 611,284. The business’s 50 day simple moving average is $11.63 and its two-hundred day simple moving average is $12.38. Steelcase has a 12 month low of $10.31 and a 12 month high of $14.74. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. During the same quarter last year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Steelcase will post 1 EPS for the current fiscal year.

Insider Buying and Selling at Steelcase

In related 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 transaction, the vice president now directly owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This represents a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.96% of the stock is owned by company insiders.

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.