Steelcase (NYSE:SCS) Announces Earnings Results

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

Steelcase Price Performance

SCS stock traded up $0.04 during trading on Wednesday, hitting $10.62. 1,095,630 shares of the stock traded hands, compared to its average volume of 611,261. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.25 and a beta of 1.33. Steelcase has a one year low of $10.31 and a one year high of $14.74. 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 company has a 50 day simple moving average of $11.63 and a 200 day simple moving average of $12.38.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction that occurred 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 $1,344,006.94. The trade was a 4.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.