Steelcase (NYSE:SCS) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.41-0.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.42. The company issued revenue guidance of $970-995 million, compared to the consensus revenue estimate of $945.93 million.Steelcase also updated its FY 2020 guidance to $1.20-1.35 EPS.
SCS traded up $0.24 on Wednesday, reaching $17.77. The company had a trading volume of 547,602 shares, compared to its average volume of 595,633. Steelcase has a 1 year low of $13.10 and a 1 year high of $19.35. The stock has a market cap of $2.06 billion, a PE ratio of 14.81 and a beta of 1.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.59 and a quick ratio of 1.22.
Steelcase (NYSE:SCS) last announced its quarterly earnings results on Tuesday, March 19th. The business services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Steelcase had a net margin of 3.66% and a return on equity of 16.47%. The firm had revenue of $912.00 million during the quarter, compared to analysts’ expectations of $870.60 million. During the same period in the previous year, the company earned $0.24 earnings per share. Steelcase’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, equities analysts expect that Steelcase will post 1.3 EPS for the current fiscal year.
In other Steelcase news, VP Allan W. Smith, Jr. sold 12,233 shares of Steelcase stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $17.15, for a total value of $209,795.95. Following the transaction, the vice president now directly owns 29,600 shares in the company, valued at $507,640. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sara E. Armbruster sold 7,500 shares of Steelcase stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the transaction, the vice president now owns 48,038 shares in the company, valued at $720,570. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,565 shares of company stock worth $3,767,208. 17.04% of the stock is currently owned by company insiders.
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Steelcase Company Profile
Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools.
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