Somewhat Favorable News Coverage Somewhat Unlikely to Impact Steelcase (SCS) Share Price
Headlines about Steelcase (NYSE:SCS) have been trending somewhat positive this week, according to Accern Sentiment. The research firm identifies negative and positive media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Steelcase earned a daily sentiment score of 0.03 on Accern’s scale. Accern also gave news coverage about the business services provider an impact score of 46.9197596995646 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Shares of Steelcase (NYSE SCS) opened at $15.40 on Friday. The stock has a market cap of $1,823.32, a PE ratio of 17.30 and a beta of 1.25. Steelcase has a 1 year low of $12.50 and a 1 year high of $18.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.23 and a current ratio of 1.58.
Steelcase (NYSE:SCS) last issued its quarterly earnings results on Tuesday, December 19th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. The business had revenue of $772.10 million for the quarter, compared to analysts’ expectations of $762.37 million. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. research analysts expect that Steelcase will post 0.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be given a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.51 annualized dividend and a dividend yield of 3.31%. Steelcase’s dividend payout ratio is presently 57.30%.
SCS has been the topic of a number of recent analyst reports. TheStreet raised shares of Steelcase from a “c+” rating to a “b-” rating in a research report on Tuesday, October 3rd. Zacks Investment Research cut shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Sidoti cut shares of Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $16.00.
In other news, VP Sara E. Armbruster sold 3,000 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $14.80, for a total transaction of $44,400.00. Following the sale, the vice president now owns 69,870 shares of the company’s stock, valued at $1,034,076. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter M. Wege II sold 13,300 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $15.14, for a total transaction of $201,362.00. Following the sale, the director now directly owns 254,244 shares in the company, valued at approximately $3,849,254.16. The disclosure for this sale can be found here. 18.87% of the stock is currently owned by corporate insiders.
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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