Steelcase (NYSE:SCS) Updates Q3 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.21-0.25 for the period, compared to the consensus earnings per share 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 Price Performance

SCS stock opened at $13.31 on Friday. The company’s fifty day simple moving average is $13.53 and its 200 day simple moving average is $13.03. Steelcase has a 12-month low of $9.63 and a 12-month high of $14.74. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.39 and a beta of 1.33.

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

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their price target 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 Steelcase stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $13.94, for a total value of $219,541.06. Following the completion of the sale, the chief accounting officer now owns 18,453 shares of the company’s stock, valued at approximately $257,234.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Steelcase news, 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 in the company, valued at $257,234.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Donna K. Flynn sold 13,310 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $13.72, for a total transaction of $182,613.20. Following the transaction, the vice president now directly owns 78,733 shares of the company’s stock, valued at $1,080,216.76. The disclosure for this sale can be found here. Insiders have sold 174,187 shares of company stock worth $2,410,861 over the last ninety days. 12.96% of the stock is owned by corporate insiders.

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.