Steelcase (NYSE:SCS) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Steelcase (NYSE:SCS) announced its earnings results on Wednesday. The business services provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06, Zacks reports. The business had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. Steelcase updated its Q1 guidance to $0.13-0.17 EPS.

Steelcase Stock Up 0.3 %

SCS stock traded up $0.04 during midday trading on Wednesday, hitting $10.62. 1,114,153 shares of the company’s stock were exchanged, compared to its average volume of 611,284. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth 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. The firm has a 50 day moving average price of $11.63 and a 200-day moving average price of $12.38. Steelcase has a 12-month low of $10.31 and a 12-month high of $14.74.

Insider Activity

In related news, VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the sale, the vice president now directly owns 114,481 shares of the company’s stock, valued at $1,344,006.94. This represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.96% of the company’s stock.

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.