Steelcase (NYSE:SCS) Updates Q1 Earnings Guidance

Steelcase (NYSE:SCS) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.08-0.12 for the period, compared to the consensus earnings per share estimate of $0.10. The company issued revenue guidance of $715-740 million, compared to the consensus revenue estimate of $742.95 million. Steelcase also updated its FY 2025 guidance to 0.850-1.000 EPS.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Steelcase from a strong-buy rating to a buy rating in a research note on Thursday.

Steelcase Stock Down 1.3 %

Shares of NYSE SCS opened at $12.15 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 1.12. The company has a market cap of $1.39 billion, a P/E ratio of 17.86, a PEG ratio of 1.35 and a beta of 1.35. Steelcase has a 1 year low of $6.39 and a 1 year high of $14.54. The firm has a 50-day simple moving average of $12.84 and a two-hundred day simple moving average of $12.01.

Steelcase (NYSE:SCS) last issued its earnings results on Wednesday, March 20th. The business services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $775.20 million for the quarter, compared to analyst estimates of $780.25 million. Steelcase had a net margin of 2.57% and a return on equity of 13.00%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. Research analysts anticipate that Steelcase will post 0.91 earnings per share for the current year.

Steelcase Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, April 2nd. Steelcase’s dividend payout ratio (DPR) is presently 58.82%.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 3,800 shares of Steelcase stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $13.83, for a total transaction of $52,554.00. Following the transaction, the vice president now directly owns 110,489 shares of the company’s stock, valued at $1,528,062.87. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Steelcase

Several institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Steelcase during the first quarter worth $33,000. Captrust Financial Advisors lifted its position in Steelcase by 179.6% during the first quarter. Captrust Financial Advisors now owns 4,141 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 2,660 shares during the period. Tower Research Capital LLC TRC lifted its position in Steelcase by 208.9% during the first quarter. Tower Research Capital LLC TRC now owns 6,091 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 4,119 shares during the period. Point72 Middle East FZE acquired a new position in Steelcase during the fourth quarter valued at $65,000. Finally, Two Sigma Investments LP acquired a new position in Steelcase during the fourth quarter valued at $72,000. 69.51% of the stock is currently owned by institutional investors and hedge funds.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, and mobile power and screens.