Steelcase (NYSE:SCS - Get Free Report) issued an update on its second quarter 2026 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.360-0.400 for the period, compared to the consensus earnings per share estimate of 0.410. The company issued revenue guidance of $860.0 million-$890.0 million, compared to the consensus revenue estimate of $878.7 million.
Steelcase Stock Down 3.7%
NYSE SCS traded down $0.41 during trading hours on Friday, hitting $10.49. 2,760,884 shares of the company were exchanged, compared to its average volume of 664,744. The company has a 50 day moving average of $10.27 and a two-hundred day moving average of $11.04. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. Steelcase has a 52-week low of $9.32 and a 52-week high of $14.74. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 1.01 and a beta of 1.14.
Steelcase (NYSE:SCS - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The business services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. Steelcase had a return on equity of 14.66% and a net margin of 3.84%. The company had revenue of $779.00 million for the quarter, compared to the consensus estimate of $759.90 million. During the same quarter in the prior year, the business earned $0.16 EPS. Steelcase's revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Steelcase will post 1 earnings per share for the current year.
Steelcase Announces Dividend
The firm 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.40 annualized dividend and a dividend yield of 3.81%. Steelcase's dividend payout ratio is currently 39.60%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Sidoti raised Steelcase to a "hold" rating in a research report on Friday, March 28th. Wall Street Zen cut Steelcase from a "strong-buy" rating to a "buy" rating in a research report on Friday.
Get Our Latest Report on SCS
Insider Transactions at Steelcase
In related news, VP Robert G. Krestakos sold 6,000 shares of the company's stock in a transaction dated 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 represents a 4.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.75% of the company's stock.
Institutional Trading of Steelcase
A number of large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Steelcase by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,999 shares of the business services provider's stock valued at $603,000 after purchasing an additional 2,403 shares during the period. Jones Financial Companies Lllp raised its stake in shares of 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 worth $32,000 after buying an additional 2,871 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Steelcase by 10.5% during the 1st 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 buying an additional 17,940 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Steelcase during the 1st quarter worth approximately $259,000. 92.42% of the stock is owned by institutional investors and hedge funds.
Steelcase Company Profile
(
Get Free Report)
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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