Wall Street brokerages expect Steelcase Inc. (NYSE:SCS) to report earnings per share of $0.15 for the current quarter, Zacks reports. Two analysts have provided estimates for Steelcase’s earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.15. Steelcase also reported earnings per share of $0.15 in the same quarter last year. The firm is expected to issue its next quarterly earnings report after the market closes on Wednesday, June 20th.

According to Zacks, analysts expect that Steelcase will report full-year earnings of $0.98 per share for the current fiscal year, with EPS estimates ranging from $0.91 to $1.05. For the next year, analysts forecast that the business will post earnings of $1.18 per share, with EPS estimates ranging from $1.16 to $1.20. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Steelcase.

Steelcase (NYSE:SCS) last posted its earnings results on Tuesday, March 20th. The business services provider reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.08. Steelcase had a net margin of 2.64% and a return on equity of 13.60%. The firm had revenue of $772.70 million for the quarter, compared to analyst estimates of $750.70 million. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year.

A number of equities research analysts have recently commented on SCS shares. Zacks Investment Research raised shares of Steelcase from a “sell” rating to a “hold” rating in a research note on Wednesday, March 28th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Steelcase in a research note on Monday, March 26th. Finally, ValuEngine lowered shares of Steelcase from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Steelcase has an average rating of “Hold” and an average price target of $16.00.

In other news, Director Jennifer C. Niemann sold 3,500 shares of the company’s stock in a transaction on Monday, April 23rd. The shares were sold at an average price of $13.91, for a total value of $48,685.00. Following the sale, the director now directly owns 5,232 shares of the company’s stock, valued at approximately $72,777.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter M. Wege II sold 7,000 shares of the business’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $13.46, for a total transaction of $94,220.00. Following the transaction, the director now owns 246,391 shares in the company, valued at approximately $3,316,422.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,804 shares of company stock worth $147,131. Insiders own 17.58% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Cooke & Bieler LP lifted its position in shares of Steelcase by 3.1% during the 1st quarter. Cooke & Bieler LP now owns 4,387,074 shares of the business services provider’s stock valued at $59,664,000 after acquiring an additional 131,655 shares during the period. Alliancebernstein L.P. lifted its position in shares of Steelcase by 13.4% during the 4th quarter. Alliancebernstein L.P. now owns 4,133,810 shares of the business services provider’s stock valued at $62,834,000 after acquiring an additional 489,955 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Steelcase by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,813,537 shares of the business services provider’s stock valued at $51,864,000 after acquiring an additional 146,165 shares during the period. Pzena Investment Management LLC lifted its position in shares of Steelcase by 506.1% during the 1st quarter. Pzena Investment Management LLC now owns 2,976,916 shares of the business services provider’s stock valued at $40,486,000 after acquiring an additional 2,485,772 shares during the period. Finally, LSV Asset Management lifted its position in shares of Steelcase by 0.6% during the 1st quarter. LSV Asset Management now owns 2,407,933 shares of the business services provider’s stock valued at $32,747,000 after acquiring an additional 13,500 shares during the period. Institutional investors own 64.09% of the company’s stock.

SCS traded up $0.02 during trading on Friday, reaching $14.90. 391,045 shares of the company’s stock were exchanged, compared to its average volume of 589,730. Steelcase has a one year low of $12.50 and a one year high of $17.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.54 and a quick ratio of 1.21. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 16.34 and a beta of 1.27.

Steelcase Company Profile

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as other products, including worktools.

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Earnings History and Estimates for Steelcase (NYSE:SCS)

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