Wall Street analysts forecast that Steelcase Inc. (NYSE:SCS) will post $875.55 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Steelcase’s earnings, with estimates ranging from $872.20 million to $878.90 million. Steelcase reported sales of $775.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.9%. The firm is expected to issue its next earnings report after the market closes on Thursday, September 20th.

On average, analysts expect that Steelcase will report full year sales of $3.28 billion for the current year, with estimates ranging from $3.28 billion to $3.29 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.44 billion per share, with estimates ranging from $3.41 billion to $3.47 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Steelcase.

Steelcase (NYSE:SCS) last announced its quarterly earnings results on Wednesday, June 20th. The business services provider reported $0.14 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. Steelcase had a return on equity of 13.38% and a net margin of 2.59%. The business had revenue of $754.00 million for the quarter, compared to analyst estimates of $754.17 million. During the same quarter in the previous year, the company earned $0.15 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis.

Several research analysts recently issued reports on the company. ValuEngine upgraded Steelcase from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Zacks Investment Research downgraded Steelcase from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, TheStreet downgraded Steelcase from a “b-” rating to a “c+” rating in a research report on Monday, June 25th. Four investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $16.00.

Shares of Steelcase stock traded up $0.15 during trading on Thursday, hitting $15.30. 584,800 shares of the company were exchanged, compared to its average volume of 575,900. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.18. Steelcase has a fifty-two week low of $13.10 and a fifty-two week high of $15.90. The company has a market capitalization of $1.75 billion, a P/E ratio of 16.79 and a beta of 1.33.

In other Steelcase news, VP Sara E. Armbruster sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $13.75, for a total value of $137,500.00. Following the completion of the transaction, the vice president now directly owns 67,474 shares in the company, valued at approximately $927,767.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer C. Niemann sold 3,400 shares of the business’s stock in a transaction on Friday, July 6th. The shares were sold at an average price of $14.17, for a total value of $48,178.00. Following the completion of the transaction, the director now owns 3,838 shares of the company’s stock, valued at $54,384.46. The disclosure for this sale can be found here. Insiders own 17.58% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Hartford Investment Management Co. acquired a new position in Steelcase in the 2nd quarter valued at $167,000. WBI Investments Inc. acquired a new position in Steelcase in the 2nd quarter valued at $173,000. Summit Trail Advisors LLC raised its holdings in Steelcase by 2,012.0% in the 1st quarter. Summit Trail Advisors LLC now owns 180,007 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 171,484 shares during the last quarter. Baldwin Brothers Inc. MA acquired a new position in Steelcase in the 2nd quarter valued at $184,000. Finally, Bayesian Capital Management LP acquired a new position in Steelcase in the 1st quarter valued at $204,000. Institutional investors own 64.77% 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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