Steelcase Inc. (SCS) to Release Quarterly Earnings on Wednesday
Steelcase Inc. (NYSE:SCS) is scheduled to be releasing its Q217 earnings data on Wednesday, September 21st. Analysts expect Steelcase to post earnings of $0.32 per share and revenue of $785.30 million for the quarter.
Shares of Steelcase Inc. (NYSE:SCS) opened at 13.97 on Tuesday. The stock has a 50 day moving average of $14.46 and a 200-day moving average of $14.75. Steelcase Inc. has a 1-year low of $11.67 and a 1-year high of $20.37. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 10.24 and a beta of 1.38.
Separately, Zacks Investment Research downgraded shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th.
In other Steelcase news, VP Sara E. Armbruster sold 14,000 shares of the stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $13.50, for a total value of $189,000.00. Following the completion of the sale, the vice president now owns 99,711 shares of the company’s stock, valued at $1,346,098.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.68% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of SCS. ProShare Advisors LLC increased its stake in shares of Steelcase by 3.3% in the second quarter. ProShare Advisors LLC now owns 10,531 shares of the company’s stock valued at $143,000 after buying an additional 336 shares during the period. Hsbc Holdings PLC boosted its position in Steelcase by 24.3% in the second quarter. Hsbc Holdings PLC now owns 20,616 shares of the company’s stock valued at $280,000 after buying an additional 4,030 shares during the period. Cantab Capital Partners LLP boosted its position in Steelcase by 45.6% in the second quarter. Cantab Capital Partners LLP now owns 33,733 shares of the company’s stock valued at $458,000 after buying an additional 10,570 shares during the period. Pacad Investment Ltd. boosted its position in Steelcase by 30.6% in the second quarter. Pacad Investment Ltd. now owns 34,550 shares of the company’s stock valued at $469,000 after buying an additional 8,100 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Steelcase during the second quarter valued at approximately $608,000. 65.80% of the stock is owned by institutional investors.
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
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