Steelcase Inc. (NYSE:SCS) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating. Steelcase’s rating score has declined by 50% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Zacks has also assigned Steelcase an industry rank of 246 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded Steelcase from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, September 28th.
Several institutional investors have recently modified their holdings of SCS. Pacad Investment Ltd. purchased a new position in shares of Steelcase during the first quarter valued at about $395,000. TIAA CREF Investment Management LLC boosted its position in shares of Steelcase by 10.3% in the first quarter. TIAA CREF Investment Management LLC now owns 299,553 shares of the company’s stock valued at $4,469,000 after buying an additional 27,934 shares during the period. Prudential Financial Inc. boosted its position in shares of Steelcase by 1,160.7% in the first quarter. Prudential Financial Inc. now owns 1,326,977 shares of the company’s stock valued at $19,798,000 after buying an additional 1,221,719 shares during the period. BlackRock Inc. boosted its position in shares of Steelcase by 19.7% in the first quarter. BlackRock Inc. now owns 18,974 shares of the company’s stock valued at $283,000 after buying an additional 3,123 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of Steelcase by 37.1% in the first quarter. BlackRock Group LTD now owns 79,262 shares of the company’s stock valued at $1,182,000 after buying an additional 21,434 shares during the period. Institutional investors own 65.97% of the company’s stock.
Steelcase (NYSE:SCS) opened at 13.60 on Thursday. The company’s 50-day moving average price is $14.01 and its 200 day moving average price is $14.61. Steelcase has a 52-week low of $11.67 and a 52-week high of $20.37. The stock has a market capitalization of $1.61 billion, a P/E ratio of 9.81 and a beta of 1.21.
Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, September 21st. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Steelcase had a return on equity of 17.38% and a net margin of 5.67%. The firm had revenue of $758 million for the quarter. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue was down 7.4% compared to the same quarter last year. On average, equities research analysts anticipate that Steelcase will post $1.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Tuesday, October 4th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Friday, September 30th. Steelcase’s dividend payout ratio (DPR) is presently 35.04%.
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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