Steelcase (SCS) Releases Earnings Results, Meets Estimates
Steelcase (NYSE:SCS) issued its earnings results on Tuesday. The business services provider reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22, Briefing.com reports. Steelcase had a return on equity of 15.72% and a net margin of 3.98%. The company had revenue of $772.10 million for the quarter, compared to analysts’ expectations of $762.37 million. During the same period last year, the business earned $0.30 EPS. Steelcase’s quarterly revenue was down 1.8% compared to the same quarter last year. Steelcase updated its Q4 guidance to $0.14-0.18 EPS.
Steelcase (NYSE:SCS) opened at $14.35 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.63. Steelcase has a 52 week low of $12.50 and a 52 week high of $18.15. The firm has a market capitalization of $1,660.00, a price-to-earnings ratio of 13.82 and a beta of 1.25.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Steelcase from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Sidoti cut Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Wednesday, September 20th. ValuEngine cut Steelcase from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, TheStreet upgraded Steelcase from a “c+” rating to a “b-” rating in a research note on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.00.
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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