Steelcase (NYSE:SCS) Issues Q3 Earnings Guidance

Steelcase (NYSE:SCS) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.21-0.25 for the period, compared to the consensus earnings per share estimate of $0.23. The company issued revenue guidance of $785-810 million, compared to the consensus revenue estimate of $812.08 million. Steelcase also updated its FY 2025 guidance to 1.000-1.000 EPS.

Wall Street Analyst Weigh In

Separately, Benchmark raised their price target on shares of Steelcase from $17.00 to $18.00 and gave the stock a buy rating in a research note on Friday, June 21st.

Steelcase Trading Up 0.7 %

SCS stock traded up $0.10 during midday trading on Wednesday, hitting $14.11. The stock had a trading volume of 1,367,132 shares, compared to its average volume of 704,586. The company’s 50-day moving average price is $13.51 and its 200 day moving average price is $13.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.15. The firm has a market cap of $1.61 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.34 and a beta of 1.33. Steelcase has a 12-month low of $8.74 and a 12-month high of $14.74.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Thursday, June 20th. The business services provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. Steelcase had a return on equity of 13.66% and a net margin of 2.89%. The business had revenue of $727.30 million during the quarter, compared to the consensus estimate of $729.05 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities research analysts predict that Steelcase will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Wednesday, July 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Wednesday, July 3rd. Steelcase’s dividend payout ratio is currently 52.63%.

Insider Transactions at Steelcase

In other Steelcase news, CAO Nicole Cherie Mcgrath sold 15,749 shares of Steelcase stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $13.94, for a total value of $219,541.06. Following the transaction, the chief accounting officer now owns 18,453 shares in the company, valued at approximately $257,234.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Donna K. Flynn sold 13,310 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $13.72, for a total value of $182,613.20. Following the transaction, the vice president now owns 78,733 shares in the company, valued at $1,080,216.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Nicole Cherie Mcgrath sold 15,749 shares of Steelcase stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $13.94, for a total transaction of $219,541.06. Following the transaction, the chief accounting officer now directly owns 18,453 shares in the company, valued at $257,234.82. The disclosure for this sale can be found here. Insiders have sold a total of 174,187 shares of company stock worth $2,410,861 in the last three months. Company insiders own 12.96% of the company’s stock.

About Steelcase

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.