Brokerages expect Steelcase Inc. (NYSE:SCS) to post earnings per share (EPS) of $0.15 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Steelcase’s earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.14. Steelcase also reported earnings per share of $0.15 during the same quarter last year. The firm is expected to announce its next earnings report after the market closes on Wednesday, June 20th.

According to Zacks, analysts expect that Steelcase will report full-year earnings of $0.98 per share for the current financial year, with EPS estimates ranging from $0.91 to $1.05. For the next year, analysts expect that the company will post earnings of $1.18 per share, with EPS estimates ranging from $1.16 to $1.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Steelcase.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Tuesday, March 20th. The business services provider reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.08. The company had revenue of $772.70 million during the quarter, compared to analyst estimates of $750.70 million. Steelcase had a net margin of 2.64% and a return on equity of 13.60%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share.

SCS has been the subject of several research reports. Zacks Investment Research upgraded shares of Steelcase from a “sell” rating to a “hold” rating in a research report on Wednesday, March 28th. Seaport Global Securities restated a “neutral” rating on shares of Steelcase in a research report on Monday, March 26th. Finally, ValuEngine lowered shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.00.

Steelcase traded up $0.02, hitting $14.90, during trading on Friday, according to MarketBeat.com. 391,045 shares of the company traded hands, compared to its average volume of 589,730. The firm has a market cap of $1.75 billion, a P/E ratio of 16.34 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.21 and a current ratio of 1.54. Steelcase has a one year low of $12.50 and a one year high of $17.10.

In other Steelcase news, Director Jennifer C. Niemann sold 3,500 shares of the stock in a transaction dated Monday, April 23rd. The shares were sold at an average price of $13.91, for a total transaction of $48,685.00. Following the completion of the transaction, the director now owns 5,232 shares in the company, valued at $72,777.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter M. Wege II sold 7,000 shares of the stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $13.46, for a total transaction of $94,220.00. Following the transaction, the director now owns 246,391 shares of the company’s stock, valued at approximately $3,316,422.86. The disclosure for this sale can be found here. Insiders have sold 10,804 shares of company stock valued at $147,131 in the last quarter. Company insiders own 17.58% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Cooke & Bieler LP boosted its position in Steelcase by 3.1% during the first quarter. Cooke & Bieler LP now owns 4,387,074 shares of the business services provider’s stock worth $59,664,000 after purchasing an additional 131,655 shares during the period. Alliancebernstein L.P. boosted its position in Steelcase by 13.4% during the fourth quarter. Alliancebernstein L.P. now owns 4,133,810 shares of the business services provider’s stock worth $62,834,000 after purchasing an additional 489,955 shares during the period. Dimensional Fund Advisors LP boosted its position in Steelcase by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,813,537 shares of the business services provider’s stock worth $51,864,000 after purchasing an additional 146,165 shares during the period. Pzena Investment Management LLC boosted its position in Steelcase by 506.1% during the first quarter. Pzena Investment Management LLC now owns 2,976,916 shares of the business services provider’s stock worth $40,486,000 after purchasing an additional 2,485,772 shares during the period. Finally, LSV Asset Management boosted its position in Steelcase by 0.6% during the first quarter. LSV Asset Management now owns 2,407,933 shares of the business services provider’s stock worth $32,747,000 after purchasing an additional 13,500 shares during the period. Hedge funds and other institutional investors own 64.09% of the company’s stock.

Steelcase Company Profile

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as other products, including worktools.

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Earnings History and Estimates for Steelcase (NYSE:SCS)

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