Sidoti Csr Analysts Reduce Earnings Estimates for Steelcase

Steelcase Inc. (NYSE:SCS - Free Report) - Stock analysts at Sidoti Csr cut their Q3 2026 earnings per share estimates for Steelcase in a report released on Thursday, June 26th. Sidoti Csr analyst G. Burns now forecasts that the business services provider will post earnings of $0.22 per share for the quarter, down from their prior estimate of $0.26. The consensus estimate for Steelcase's current full-year earnings is $1.00 per share.

Steelcase (NYSE:SCS - Get Free Report) last released its earnings results on Wednesday, June 25th. The business services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $779.00 million during the quarter, compared to the consensus estimate of $759.90 million. Steelcase had a return on equity of 14.49% and a net margin of 3.84%. Steelcase's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS.

A number of other analysts have also weighed in on SCS. Wall Street Zen lowered Steelcase from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Sidoti upgraded Steelcase to a "hold" rating in a report on Friday, March 28th.

Steelcase Stock Up 4.1%

Shares of SCS stock traded up $0.46 during trading on Monday, reaching $11.68. The company's stock had a trading volume of 481,328 shares, compared to its average volume of 668,498. Steelcase has a 1-year low of $9.32 and a 1-year high of $14.74. The stock's 50-day moving average price is $10.35 and its 200 day moving average price is $11.01. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 1.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.65 and a quick ratio of 1.17.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SCS. Jones Financial Companies Lllp lifted its stake in Steelcase by 3,634.2% during the first quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider's stock worth $32,000 after purchasing an additional 2,871 shares during the last quarter. US Bancorp DE lifted its position in shares of Steelcase by 4,509.8% during the 1st 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 boosted its holdings in shares of Steelcase by 1,468.7% in the 1st quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock valued at $63,000 after buying an additional 5,346 shares in the last quarter. Virtus Fund Advisers LLC grew its position in shares of Steelcase by 228.9% in the 4th quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock valued at $93,000 after buying an additional 5,493 shares during the last quarter. Finally, Quarry LP raised its stake in Steelcase by 162.6% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 92.42% of the company's stock.

Insider Buying and Selling at Steelcase

In related news, VP Robert G. Krestakos sold 6,000 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $10.13, for a total value of $60,780.00. Following the transaction, the vice president owned 139,912 shares of the company's stock, valued at $1,417,308.56. This represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.75% of the company's stock.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Monday, July 7th. Steelcase's dividend payout ratio is presently 39.60%.

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.