Steelcase (NYSE:SCS) Announces Earnings Results

Steelcase (NYSE:SCS) released its earnings results on Wednesday. The business services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07, Zacks reports. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $796.58 million. During the same period last year, the business earned $0.30 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Steelcase updated its Q4 guidance to $0.20-0.24 EPS and its Q4 2025 guidance to 0.200-0.240 EPS.

Steelcase Stock Down 1.1 %

Shares of NYSE:SCS opened at $12.32 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.62 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $13.03 and its 200 day moving average is $13.16. Steelcase has a 12-month low of $11.50 and a 12-month high of $14.74. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.29 and a beta of 1.35.

Steelcase Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.40 annualized dividend and a yield of 3.25%. Steelcase’s payout ratio is 37.74%.

Insider Buying and Selling at Steelcase

In related news, VP Robert G. Krestakos sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total transaction of $52,440.00. Following the completion of the transaction, the vice president now owns 119,481 shares of the company’s stock, valued at approximately $1,566,395.91. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Noble Financial initiated coverage on Steelcase in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $16.00 price target for the company.

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.