Steelcase (SCS) Stock Price, News & Analysis

Company Overview

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. Its seating products comprise task chairs; seating for collaborative environments and casual settings; and specialty seating for specific vertical markets, including education and healthcare. The company's interior architectural products comprise full and partial height walls and architectural pods. It also provides textiles and surface imaging products for architects and designers; and workplace strategy consulting, lease origination, and furniture and asset management services. The company markets and sells its products to corporate, government, healthcare, education, and retail customers under the Steelcase, AMQ, Coalesse, Designtex, HALCON, Orangebox, Smith System, and Viccarbe brands. It distributes its products and services through a network of independent and company-owned dealers, as well as directly to end-use customers. The company was incorporated in 1912 and is headquartered in Grand Rapids, Michigan.

Key Stats

• Today's Range: $12.02 to $12.29
• 50-Day Range: $12.20 to $14.14
• 52-Week Range: $10.72 to $14.74
• Volume: 541,702 shs
• Average Volume: 688,370 shs
• Market Capitalization: $1.37 billion
• P/E Ratio: 11.35
• Dividend Yield: 3.33%
• Price Target: $17.00
• Consensus Rating: Buy

Steelcase Stock Analysis - MarketRank™

Steelcase scored higher than 96% of companies evaluated by MarketBeat, and ranked 19th out of 338 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.5 / 5
• Analyst Rating: Buy

Consensus Rating

Steelcase has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Steelcase has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 15.00%

Earnings Growth

Earnings for Steelcase are expected to grow by 15.00% in the coming year, from $1.00 to $1.15 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Steelcase is 11.35, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 133.70.

Price to Earnings Ratio vs. Sector

The P/E ratio of Steelcase is 11.35, which means that it is trading at a less expensive P/E ratio than the Business Services sector average P/E ratio of about 44.65.

Price to Earnings Growth Ratio

Steelcase has a PEG Ratio of 1.24. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Steelcase has a P/B Ratio of 1.55. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

2.32% of the float of Steelcase has been sold short.

Short Interest Ratio / Days to Cover

Steelcase has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Steelcase has recently decreased by 4.83%, indicating that investor sentiment is improving.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Steelcase pays a meaningful dividend of 3.28%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Steelcase does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Steelcase is 37.74%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Steelcase will have a dividend payout ratio of 34.78% next year. This indicates that Steelcase will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 2.0 / 5
• Environmental Score: -1.87

Percentage of Shares Shorted

2.32% of the float of Steelcase has been sold short.

Short Interest Ratio / Days to Cover

Steelcase has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Steelcase has recently decreased by 4.83%, indicating that investor sentiment is improving.

News and Social Media

• Score: 0.9 / 5
• News Sentiment: N/A

News Sentiment

Steelcase has a news sentiment score of -0.39. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.59 average news sentiment score of Business Services companies.

News Coverage This Week

MarketBeat has tracked 1 news article for Steelcase this week, compared to 4 articles on an average week.

MarketBeat Follows

Only 2 people have added Steelcase to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 3.3 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Steelcase insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $52,440.00 in company stock.

Percentage Held by Insiders

12.96% of the stock of Steelcase is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

92.42% of the stock of Steelcase is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

SCS Stock Analysis - Frequently Asked Questions

How have SCS shares performed this year?

Steelcase's stock was trading at $13.52 on January 1st, 2024. Since then, SCS shares have decreased by 11.0% and is now trading at $12.03.
View the best growth stocks for 2024 here.

How were Steelcase's earnings last quarter?

Steelcase Inc. (NYSE:SCS) issued its quarterly earnings data on Wednesday, September, 18th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. Steelcase's revenue for the quarter was up .1% compared to the same quarter last year.

Does Steelcase have any subsidiaries?

Steelcase subsidiaries include these companies: Viccarbe Habitat S.L., Orangebox Group, Red Thread, Ultra Group Company, Softcare Innovations, PolyVision Corporation, AF Steelcase S.A., and more.

Who are Steelcase's major shareholders?

Top institutional shareholders of Steelcase include Douglas Lane & Associates LLC (2.83%), Robeco Institutional Asset Management B.V. (0.39%), Green Alpha Advisors LLC (0.12%) and Ritholtz Wealth Management (0.06%). Insiders that own company stock include David C Sylvester, Sara E Armbruster, Lizbeth S O'shaughnessy, Peter M Wege II, Allan W Smith Jr, Robert G Krestakos, Donna K Flynn, Jennifer C Niemann and Nicole Cherie Mcgrath.
View institutional ownership trends.

How do I buy shares of Steelcase?

Shares of SCS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Steelcase own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Steelcase investors own include NVIDIA (NVDA), Broadcom (AVGO), Meta Platforms (META), Arista Networks (ANET), Advanced Micro Devices (AMD), ServiceNow (NOW) and Adobe (ADBE).

Company Calendar

• Last Earnings: 9/18/2024
• Ex-Dividend for 10/15 Dividend: 9/30/2024
• Dividend Payable: 10/15/2024
• Today: 10/31/2024
• Next Earnings (Estimated): 12/17/2024
• Fiscal Year End: 2/28/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Business Services
• Industry: Office furniture, except wood
• Sub-Industry: Office Services & Supplies
• Current Symbol: NYSE:SCS
• CUSIP: 85815520
• CIK: 1050825
• Web: www.steelcase.com
• Phone: (616) 247-2710
• Fax: 616-475-2270
• Employees: 11,300
• Year Founded: 1912

Price Target and Rating

• Average Stock Price Target: $17.00
• High Stock Price Target: $18.00
• Low Stock Price Target: $16.00
• Potential Upside/Downside: +38.8%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 2 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.06
• Trailing P/E Ratio: 11.56
• Forward P/E Ratio: 12.25
• P/E Growth: 1.24
• Net Income: $81.10 million
• Net Margins: 4.02%
• Pretax Margin: 5.33%
• Return on Equity: 14.41%
• Return on Assets: 5.79%

Debt

• Debt-to-Equity Ratio: 0.48
• Current Ratio: 1.62
• Quick Ratio: 1.23

Sales & Book Value

• Annual Sales: $3.14 billion
• Price / Sales: 0.45
• Cash Flow: $1.67 per share
• Price / Cash Flow: 7.35
• Book Value: $7.77 per share
• Price / Book: 1.58

Miscellaneous

• Outstanding Shares: 113,970,000
• Free Float: 99,199,000
• Market Cap: $1.40 billion
• Optionable: Optionable
• Beta: 1.32