Steelcase (NYSE:SCS) Updates 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 Trading Up 0.3 %

Shares of SCS traded up $0.04 during mid-day trading on Wednesday, reaching $10.62. The company’s stock had a trading volume of 1,095,630 shares, compared to its average volume of 611,261. Steelcase has a 52 week low of $10.31 and a 52 week high of $14.74. The stock has a market cap of $1.21 billion, a PE ratio of 11.06, a P/E/G ratio of 1.25 and a beta of 1.33. The company’s fifty day moving average price is $11.63 and its two-hundred day moving average price is $12.38. 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 (NYSE:SCS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts predict that Steelcase will post 1 earnings per share for the current fiscal year.

Insider Activity

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of Steelcase 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.96% of the stock is currently owned by corporate insiders.

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.