Steelcase (NYSE:SCS) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.14-0.18 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.23. The company issued revenue guidance of $740-765 million, compared to the consensus revenue estimate of $762.37 million.

Steelcase (NYSE SCS) opened at $14.35 on Wednesday. The firm has a market cap of $1,676.69, a PE ratio of 14.17 and a beta of 1.25. Steelcase has a 52-week low of $12.50 and a 52-week high of $18.15. 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 (NYSE:SCS) last posted its quarterly earnings results on Tuesday, December 19th. The business services provider reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $772.10 million for the quarter, compared to analyst estimates of $762.37 million. Steelcase had a net margin of 3.98% and a return on equity of 15.72%. Steelcase’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. analysts anticipate that Steelcase will post 0.89 EPS for the current fiscal year.

SCS has been the topic of a number of recent research reports. Sidoti upgraded shares of Steelcase from a neutral rating to a buy rating and set a $16.00 price target on the stock in a research report on Friday, September 1st. TheStreet upgraded shares of Steelcase from a c+ rating to a b- rating in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Steelcase from a sell rating to a hold rating in a research report on Thursday, August 24th. Finally, ValuEngine lowered shares of Steelcase from a buy rating to a hold rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $16.00.

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About Steelcase

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.

Earnings History and Estimates for Steelcase (NYSE:SCS)

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