Steelcase (SCS) Releases FY 2020 Earnings Guidance

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Steelcase (NYSE:SCS) updated its FY 2020 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.20-1.35 for the period, compared to the Thomson Reuters consensus estimate of $1.32. Steelcase also updated its Q1 2020 guidance to $0.16-0.20 EPS.

Separately, Zacks Investment Research lowered Steelcase from a strong-buy rating to a hold rating in a research report on Thursday, February 21st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Steelcase currently has an average rating of Buy and an average target price of $18.67.

Shares of NYSE SCS traded down $0.12 during midday trading on Tuesday, hitting $17.48. 996,748 shares of the company’s stock were exchanged, compared to its average volume of 518,280. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 1.25. Steelcase has a twelve month low of $13.10 and a twelve month high of $19.35. The firm has a market capitalization of $2.05 billion, a PE ratio of 19.21 and a beta of 1.29.

Steelcase (NYSE:SCS) last issued its earnings results on Wednesday, December 19th. The business services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. Steelcase had a return on equity of 15.91% and a net margin of 3.13%. The business had revenue of $901.00 million for the quarter, compared to analyst estimates of $900.30 million. On average, sell-side analysts forecast that Steelcase will post 1.12 earnings per share for the current fiscal year.

In related news, Director Robert C. Pew III sold 40,230 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $17.52, for a total transaction of $704,829.60. Following the transaction, the director now owns 217,890 shares in the company, valued at approximately $3,817,432.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter M. Wege II sold 13,741 shares of Steelcase stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $15.53, for a total value of $213,397.73. Following the completion of the transaction, the director now owns 238,656 shares in the company, valued at $3,706,327.68. The disclosure for this sale can be found here. Insiders have sold a total of 122,105 shares of company stock worth $2,111,935 in the last three months. Corporate insiders own 17.58% of the company’s stock.

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Steelcase Company Profile

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-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as other products, including worktools.

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Earnings History and Estimates for Steelcase (NYSE:SCS)

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