Shares of Steelcase Inc. (NYSE:SCS) have been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.00.
Separately, Zacks Investment Research cut shares of Steelcase from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th.
In other Steelcase news, VP Sara E. Armbruster sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were 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 in the company, valued at approximately $1,034,076. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter M. Wege II sold 13,300 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $15.14, for a total transaction of $201,362.00. Following the transaction, the director now owns 254,244 shares of the company’s stock, valued at approximately $3,849,254.16. The disclosure for this sale can be found here. Insiders own 18.87% of the company’s stock.
Shares of Steelcase (NYSE SCS) traded down $0.85 during mid-day trading on Wednesday, hitting $13.65. 643,133 shares of the company were exchanged, compared to its average volume of 722,656. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1,718.80, a PE ratio of 15.34 and a beta of 1.20. Steelcase has a 52-week low of $12.50 and a 52-week high of $18.15.
Steelcase (NYSE:SCS) last announced its quarterly earnings data on Tuesday, December 19th. The business services provider reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $772.10 million during the quarter, compared to analysts’ expectations of $762.37 million. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. equities analysts forecast that Steelcase will post 0.81 earnings per share for the current fiscal year.
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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.
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