Steelcase (NYSE:SCS) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Steelcase (NYSE:SCS) released its quarterly earnings results on Friday. The business services provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.07, Briefing.com reports. Steelcase had a return on equity of 18.33% and a net margin of 3.80%. The company had revenue of $998.00 million during the quarter, compared to analyst estimates of $980.87 million. During the same quarter last year, the business posted $0.36 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis.

Shares of NYSE:SCS opened at $18.39 on Monday. Steelcase has a 1 year low of $13.96 and a 1 year high of $19.35. The business has a 50 day simple moving average of $15.98 and a two-hundred day simple moving average of $16.51. The firm has a market capitalization of $1.96 billion, a PE ratio of 15.33 and a beta of 1.35. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.13.

The firm also recently announced a dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, September 27th. Steelcase’s dividend payout ratio (DPR) is presently 48.33%.



In other Steelcase news, CAO Lizbeth S. O’shaughnessy sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $17.11, for a total transaction of $342,200.00. Following the completion of the transaction, the chief accounting officer now owns 209,840 shares in the company, valued at $3,590,362.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David C. Sylvester sold 21,017 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $17.43, for a total value of $366,326.31. Following the transaction, the chief financial officer now owns 412,816 shares of the company’s stock, valued at approximately $7,195,382.88. The disclosure for this sale can be found here. Insiders have sold 147,037 shares of company stock valued at $2,557,519 in the last 90 days. Company insiders own 17.04% of the company’s stock.

Several research analysts have issued reports on the company. Zacks Investment Research lowered Steelcase from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Seaport Global Securities lowered Steelcase from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 17th.

About Steelcase

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools.

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Earnings History for Steelcase (NYSE:SCS)

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