Somewhat Positive News Coverage Somewhat Unlikely to Affect Steelcase (SCS) Stock Price

Press coverage about Steelcase (NYSE:SCS) has trended somewhat positive this week, according to Accern. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Steelcase earned a news impact score of 0.04 on Accern’s scale. Accern also assigned media coverage about the business services provider an impact score of 46.9697569063556 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

Several research firms have recently commented on SCS. Zacks Investment Research lowered shares of Steelcase from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. TheStreet raised shares of Steelcase from a “c+” rating to a “b-” rating in a research note on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Steelcase presently has a consensus rating of “Hold” and an average target price of $16.00.

Steelcase (NYSE SCS) opened at $15.55 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36. Steelcase has a 12 month low of $12.50 and a 12 month high of $18.15. The company has a market cap of $1,829.13, a P/E ratio of 17.50 and a beta of 1.25.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Tuesday, December 19th. The business services provider reported $0.22 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The business had revenue of $772.10 million during the quarter, compared to analyst estimates of $762.37 million. During the same quarter last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. sell-side analysts expect that Steelcase will post 0.81 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were paid a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.51 dividend on an annualized basis and a yield of 3.28%. Steelcase’s dividend payout ratio is currently 57.30%.

In related news, Director Peter M. Wege II sold 13,300 shares of Steelcase stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $15.14, for a total value of $201,362.00. Following the completion of the transaction, the director now owns 254,244 shares in the company, valued at $3,849,254.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sara E. Armbruster sold 3,000 shares of Steelcase stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $14.80, for a total transaction of $44,400.00. Following the completion of the transaction, the vice president now owns 69,870 shares of the company’s stock, valued at approximately $1,034,076. The disclosure for this sale can be found here. 18.87% of the stock is owned by insiders.

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Steelcase Company Profile

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.

Insider Buying and Selling by Quarter for Steelcase (NYSE:SCS)

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