Analysts expect Steelcase Inc. (NYSE:SCS) to report $749.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Steelcase’s earnings, with the lowest sales estimate coming in at $748.00 million and the highest estimate coming in at $751.00 million. Steelcase reported sales of $769.10 million during the same quarter last year, which suggests a negative year-over-year growth rate of 2.5%. The company is scheduled to announce its next quarterly earnings report on Tuesday, March 20th.

On average, analysts expect that Steelcase will report full year sales of $749.50 million for the current fiscal year. For the next fiscal year, analysts anticipate that the company will report sales of $3.15 billion per share, with estimates ranging from $3.13 billion to $3.17 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Steelcase.

Steelcase (NYSE:SCS) last posted its earnings results on Tuesday, December 19th. The business services provider reported $0.22 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. The company had revenue of $772.10 million during the quarter, compared to the consensus estimate of $762.37 million. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share.

Separately, Zacks Investment Research downgraded shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.00.

Shares of Steelcase (NYSE:SCS) opened at $13.90 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.58 and a quick ratio of 1.23. The company has a market cap of $1,649.12, a P/E ratio of 15.62 and a beta of 1.20. Steelcase has a 1 year low of $12.50 and a 1 year high of $18.15.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Thursday, December 28th. Steelcase’s dividend payout ratio is currently 57.30%.

In related news, VP Sara E. Armbruster sold 3,000 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $14.80, for a total transaction of $44,400.00. Following the completion of the sale, the vice president now directly owns 69,870 shares of the company’s stock, valued at approximately $1,034,076. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter M. Wege II sold 13,300 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $3,849,254.16. The disclosure for this sale can be found here. 18.87% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SCS. Deprince Race & Zollo Inc. bought a new stake in shares of Steelcase during the 4th quarter worth $9,296,000. Cooke & Bieler LP boosted its holdings in shares of Steelcase by 13.6% during the 4th quarter. Cooke & Bieler LP now owns 4,255,419 shares of the business services provider’s stock worth $64,682,000 after buying an additional 509,585 shares during the period. Pzena Investment Management LLC bought a new stake in shares of Steelcase during the 4th quarter worth $7,465,000. Dimensional Fund Advisors LP boosted its holdings in shares of Steelcase by 8.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,630,186 shares of the business services provider’s stock worth $55,905,000 after buying an additional 278,125 shares during the period. Finally, Walthausen & Co. LLC boosted its holdings in shares of Steelcase by 63.0% during the 3rd quarter. Walthausen & Co. LLC now owns 582,052 shares of the business services provider’s stock worth $8,964,000 after buying an additional 225,066 shares during the period. 62.79% of the stock is owned by institutional investors and hedge funds.

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Steelcase Company Profile

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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Earnings History and Estimates for Steelcase (NYSE:SCS)

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