Steelcase (NYSE:SCS) Updates Q1 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.08-0.12 for the period, compared to the consensus earnings per share estimate of $0.10. The company issued revenue guidance of $715-740 million, compared to the consensus revenue estimate of $742.95 million. Steelcase also updated its FY 2025 guidance to 0.850-1.000 EPS.

Steelcase Stock Performance

SCS opened at $12.15 on Friday. The business’s 50 day moving average is $12.84 and its 200-day moving average is $12.01. The stock has a market cap of $1.39 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.51. Steelcase has a twelve month low of $6.39 and a twelve month high of $14.54.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Wednesday, March 20th. The business services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Steelcase had a return on equity of 13.00% and a net margin of 2.57%. The company had revenue of $775.20 million for the quarter, compared to analysts’ expectations of $780.25 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts predict that Steelcase will post 0.91 earnings per share for the current year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.29%. Steelcase’s dividend payout ratio is presently 58.82%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Steelcase from a strong-buy rating to a buy rating in a research note on Thursday.

Insider Activity at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 3,800 shares of Steelcase stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $13.83, for a total value of $52,554.00. Following the transaction, the vice president now owns 110,489 shares in the company, valued at $1,528,062.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SCS. Point72 Hong Kong Ltd purchased a new position in Steelcase during the 1st quarter worth approximately $33,000. Captrust Financial Advisors grew its position in Steelcase by 179.6% during the 1st 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. Tower Research Capital LLC TRC grew its position in Steelcase by 208.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,091 shares of the business services provider’s stock worth $51,000 after purchasing an additional 4,119 shares in the last quarter. Point72 Middle East FZE purchased a new position in Steelcase during the 4th quarter worth approximately $65,000. Finally, Two Sigma Investments LP purchased a new position in Steelcase during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds own 69.51% of the company’s stock.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other 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, and mobile power and screens.