Sidoti Csr Issues Negative Forecast for Steelcase Earnings

Steelcase Inc. (NYSE:SCS - Free Report) - Equities research analysts at Sidoti Csr lowered their Q3 2026 earnings per share estimates for Steelcase in a research note issued to investors on Thursday, June 26th. Sidoti Csr analyst G. Burns now anticipates that the business services provider will earn $0.22 per share for the quarter, down from their prior forecast of $0.26. The consensus estimate for Steelcase's current full-year earnings is $1.00 per share.

A number of other research analysts also recently commented on the company. Wall Street Zen downgraded Steelcase from a "strong-buy" rating to a "buy" rating in a research note on Friday. Sidoti raised Steelcase to a "hold" rating in a research note on Friday, March 28th.

Steelcase Trading Down 3.7%

NYSE SCS opened at $10.49 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.47. Steelcase has a 1-year low of $9.32 and a 1-year high of $14.74. The firm's fifty day simple moving average is $10.27 and its 200-day simple moving average is $11.02. The company has a market capitalization of $1.20 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14.

Steelcase (NYSE:SCS - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The business services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The business had revenue of $779.00 million during the quarter, compared to analysts' expectations of $759.90 million. Steelcase had a net margin of 3.84% and a return on equity of 14.66%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share.

Steelcase Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, July 7th. This represents a $0.40 annualized dividend and a yield of 3.81%. Steelcase's dividend payout ratio (DPR) is currently 39.60%.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $10.13, for a total transaction of $60,780.00. Following the transaction, the vice president now owns 139,912 shares in the company, valued at $1,417,308.56. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 6.75% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in Steelcase by 3,634.2% during the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider's stock valued at $32,000 after purchasing an additional 2,871 shares during the period. US Bancorp DE lifted its holdings in shares of Steelcase by 4,509.8% during the first quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock worth $52,000 after buying an additional 4,600 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Steelcase by 1,468.7% in the first quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock worth $63,000 after acquiring an additional 5,346 shares during the last quarter. Virtus Fund Advisers LLC grew its stake in shares of Steelcase by 228.9% in the fourth quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock worth $93,000 after acquiring an additional 5,493 shares during the last quarter. Finally, Quarry LP increased its position in Steelcase by 162.6% during the fourth quarter. Quarry LP now owns 8,344 shares of the business services provider's stock worth $99,000 after acquiring an additional 5,166 shares during the period. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Steelcase Company Profile

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.

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