Steelcase (NYSE:SCS) issued an update on its third quarter 2020 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.33-0.37 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.35. The company issued revenue guidance of $920-945 million, compared to the consensus revenue estimate of $940.77 million.
NYSE SCS traded up $0.35 during trading hours on Thursday, reaching $16.74. The company’s stock had a trading volume of 1,141,479 shares, compared to its average volume of 610,253. The stock has a market cap of $1.97 billion, a PE ratio of 13.95 and a beta of 1.35. Steelcase has a fifty-two week low of $13.96 and a fifty-two week high of $19.35. The company’s 50-day moving average is $15.96 and its two-hundred day moving average is $16.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.57.
Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, June 19th. The business services provider reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.04). The business had revenue of $824.30 million during the quarter, compared to analyst estimates of $839.07 million. Steelcase had a net margin of 3.61% and a return on equity of 16.35%. Steelcase’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. Equities analysts expect that Steelcase will post 1.28 earnings per share for the current fiscal year.
In related news, VP Sara E. Armbruster sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $17.30, for a total value of $86,500.00. Following the transaction, the vice president now owns 54,538 shares in the company, valued at $943,507.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lizbeth S. O’shaughnessy sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $17.11, for a total transaction of $342,200.00. Following the completion of the transaction, the chief accounting officer now owns 209,840 shares in the company, valued at approximately $3,590,362.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,037 shares of company stock worth $2,557,519. Insiders own 17.58% of the company’s stock.
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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