Steelcase (NYSE:SCS) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.28-0.33 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.25. The company issued revenue guidance of $885-915 million, compared to the consensus revenue estimate of $834.20 million.Steelcase also updated its FY19 guidance to $1.10-1.15 EPS.
Shares of NYSE SCS traded up $0.80 during midday trading on Thursday, reaching $16.15. 1,773,424 shares of the company traded hands, compared to its average volume of 578,285. The stock has a market cap of $1.78 billion, a PE ratio of 17.75 and a beta of 1.33. Steelcase has a 12 month low of $13.10 and a 12 month high of $16.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.18 and a current ratio of 1.61.
Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, June 20th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.14. The company had revenue of $754.00 million during the quarter, compared to analysts’ expectations of $754.17 million. Steelcase had a return on equity of 13.38% and a net margin of 2.59%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $0.15 earnings per share. analysts predict that Steelcase will post 0.95 earnings per share for the current year.
In other Steelcase news, Director Jennifer C. Niemann sold 3,400 shares of Steelcase stock in a transaction on Friday, July 6th. The stock was sold at an average price of $14.17, for a total transaction of $48,178.00. Following the completion of the transaction, the director now directly owns 3,838 shares of the company’s stock, valued at $54,384.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sara E. Armbruster sold 10,000 shares of Steelcase stock in a transaction on Tuesday, June 26th. The shares were sold at an average price of $13.75, for a total value of $137,500.00. Following the transaction, the vice president now directly owns 67,474 shares of the company’s stock, valued at $927,767.50. The disclosure for this sale can be found here. 17.58% of the stock is currently owned by company insiders.
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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