Steelcase (NYSE:SCS) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Steelcase (NYSE:SCS - Get Free Report) released its quarterly earnings results on Wednesday. The business services provider reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.08, Zacks reports. Steelcase had a return on equity of 14.66% and a net margin of 3.84%. The firm had revenue of $779.00 million during the quarter, compared to the consensus estimate of $759.90 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The business's revenue was up 7.1% on a year-over-year basis. Steelcase updated its Q2 2026 guidance to 0.360-0.400 EPS.

Steelcase Stock Performance

Shares of SCS stock traded down $0.41 on Friday, reaching $10.49. The stock had a trading volume of 2,760,884 shares, compared to its average volume of 664,744. Steelcase has a 12 month low of $9.32 and a 12 month high of $14.74. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.01 and a beta of 1.14. The firm's 50-day moving average is $10.27 and its two-hundred day moving average is $11.04.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders 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 3.81%. The ex-dividend date is Monday, July 7th. Steelcase's dividend payout ratio (DPR) is presently 39.60%.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 6,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 139,912 shares of the company's stock, valued at $1,417,308.56. This trade represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.75% of the company's stock.

Institutional Investors Weigh In On Steelcase

A number of large investors have recently added to or reduced their stakes in SCS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Steelcase by 10.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 188,770 shares of the business services provider's stock worth $2,069,000 after purchasing an additional 17,940 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Steelcase by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,999 shares of the business services provider's stock worth $603,000 after buying an additional 2,403 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Steelcase during the 1st quarter worth about $259,000. Finally, Jones Financial Companies Lllp grew its stake in Steelcase by 3,634.2% in the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider's stock valued at $32,000 after buying an additional 2,871 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SCS shares. Wall Street Zen cut Steelcase from a "strong-buy" rating to a "buy" rating in a report on Friday. Sidoti raised Steelcase to a "hold" rating in a research report on Friday, March 28th.

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.