StockNews.com Begins Coverage on Steelcase (NYSE:SCS)

StockNews.com started coverage on shares of Steelcase (NYSE:SCS – Get Rating) in a research report released on Thursday. The brokerage issued a hold rating on the business services provider’s stock.

Separately, Benchmark downgraded shares of Steelcase from a buy rating to a hold rating in a research note on Tuesday, November 29th.

Steelcase Stock Performance

NYSE:SCS opened at $7.14 on Thursday. The firm’s fifty day moving average price is $7.63 and its 200 day moving average price is $7.85. Steelcase has a 1-year low of $6.20 and a 1-year high of $12.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.35 and a quick ratio of 0.79. The firm has a market cap of $805.25 million, a price-to-earnings ratio of 47.60, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36.

Steelcase (NYSE:SCS – Get Rating) last released its quarterly earnings results on Monday, December 19th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $826.90 million during the quarter. Steelcase had a return on equity of 4.85% and a net margin of 0.55%. On average, sell-side analysts expect that Steelcase will post 0.42 EPS for the current year.

Steelcase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Friday, December 30th. Steelcase’s dividend payout ratio is currently 266.67%.

Institutional Trading of Steelcase

Institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of Steelcase during the 1st quarter valued at approximately $33,000. Captrust Financial Advisors grew its stake in shares of Steelcase by 179.6% in the first quarter. Captrust Financial Advisors now owns 4,141 shares of the business services provider’s stock worth $49,000 after purchasing an additional 2,660 shares in the last quarter. Point72 Middle East FZE bought a new position in shares of Steelcase in the fourth quarter worth $65,000. Raymond James & Associates bought a new position in shares of Steelcase in the third quarter worth $69,000. Finally, Two Sigma Investments LP bought a new position in shares of Steelcase in the fourth quarter worth $72,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

About Steelcase

(Get Rating)

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through the Americas, EMEA, and Other Category segments. The firm’s furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including work tools and screens.