Steelcase Inc. (NYSE:SCS) has received a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation. Steelcase’s rating score has declined by 50% in the last 90 days as a result of various analysts’ ratings changes.
Zacks has also given Steelcase an industry rank of 59 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded Steelcase from a “sell” rating to a “hold” rating in a report on Thursday, June 2nd.
Steelcase (NYSE:SCS) opened at 13.92 on Friday. Steelcase has a 52-week low of $11.67 and a 52-week high of $20.37. The company’s 50 day moving average price is $14.35 and its 200 day moving average price is $14.73. The firm has a market cap of $1.69 billion, a PE ratio of 10.04 and a beta of 1.38.
Steelcase (NYSE:SCS) last released its quarterly earnings data on Wednesday, September 21st. The company reported $0.32 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.32. Steelcase had a net margin of 5.52% and a return on equity of 18.31%. The business earned $758 million during the quarter. During the same quarter in the prior year, the company earned $0.35 EPS. Steelcase’s quarterly revenue was down 7.4% on a year-over-year basis. Analysts predict that Steelcase will post $1.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Tuesday, October 4th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, September 30th. Steelcase’s dividend payout ratio (DPR) is presently 35.04%.
In other Steelcase news, VP Sara E. Armbruster sold 14,000 shares of the stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $13.50, for a total transaction of $189,000.00. Following the completion of the transaction, the vice president now owns 99,711 shares in the company, valued at approximately $1,346,098.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 18.68% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in shares of Steelcase by 10.0% in the second quarter. Public Employees Retirement System of Ohio now owns 8,226 shares of the company’s stock valued at $112,000 after buying an additional 745 shares during the last quarter. Manchester Capital Management LLC bought a new position in shares of Steelcase during the first quarter valued at $138,000. ProShare Advisors LLC boosted its position in shares of Steelcase by 3.3% in the second quarter. ProShare Advisors LLC now owns 10,531 shares of the company’s stock valued at $143,000 after buying an additional 336 shares during the last quarter. Stifel Financial Corp bought a new position in shares of Steelcase during the second quarter valued at $164,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Steelcase by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 12,604 shares of the company’s stock valued at $171,000 after buying an additional 1,527 shares during the last quarter. Hedge funds and other institutional investors own 65.72% of the company’s stock.
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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