Steelcase (NYSE:SCS) Updates Q3 Earnings Guidance

Steelcase (NYSE:SCS) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.21-0.25 for the period, compared to the consensus 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.

Steelcase Stock Down 3.0 %

NYSE SCS opened at $12.91 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 0.51. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.39 and a beta of 1.33. The company has a 50 day moving average of $13.52 and a 200-day moving average of $13.03. Steelcase has a 1-year low of $10.29 and a 1-year high of $14.74.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $855.80 million during the quarter, compared to the consensus estimate of $864.17 million. Steelcase had a return on equity of 13.66% and a net margin of 2.89%. Steelcase’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, equities research analysts expect that Steelcase will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Monday, September 30th. Steelcase’s payout ratio is presently 52.63%.

Analysts Set New Price Targets

Separately, Benchmark lifted their target price on Steelcase from $17.00 to $18.00 and gave the company a buy rating in a research report on Friday, June 21st.

Insider Activity at Steelcase

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

Steelcase Company Profile

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.