Steelcase (NYSE:SCS) Issues Q1 Earnings Guidance

Steelcase (NYSE:SCS) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.13-0.17 for the period, compared to the consensus EPS estimate of $0.11. The company issued revenue guidance of $760-785 million, compared to the consensus revenue estimate of $738.48 million.

Steelcase Stock Performance

NYSE:SCS traded up $0.04 during trading hours on Wednesday, reaching $10.62. The company had a trading volume of 1,114,153 shares, compared to its average volume of 611,284. The firm’s 50 day moving average price is $11.63 and its 200-day moving average price is $12.38. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.25 and a beta of 1.33. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. Steelcase has a 52 week low of $10.31 and a 52 week high of $14.74.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company had revenue of $788.00 million during the quarter, compared to analysts’ expectations of $790.90 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. Steelcase’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts forecast that Steelcase will post 1 EPS for the current year.

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the transaction, the vice president now directly owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.