Steelcase (SCS) Getting Somewhat Positive News Coverage, Report Finds

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News stories about Steelcase (NYSE:SCS) have trended somewhat positive on Friday, according to Accern Sentiment. Accern identifies positive and negative press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Steelcase earned a coverage optimism score of 0.06 on Accern’s scale. Accern also gave press coverage about the business services provider an impact score of 46.8876724182929 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:

Shares of NYSE:SCS traded down $0.30 during trading on Friday, reaching $13.90. 345,608 shares of the company traded hands, compared to its average volume of 705,485. The company has a market cap of $1,625.89, a price-to-earnings ratio of 15.13 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.23 and a current ratio of 1.58. Steelcase has a 52 week low of $12.50 and a 52 week high of $18.15.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Tuesday, March 20th. The business services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. Steelcase had a return on equity of 13.66% and a net margin of 2.64%. The company had revenue of $772.70 million during the quarter, compared to analysts’ expectations of $750.70 million. During the same quarter in the previous year, the firm earned $0.27 EPS. Steelcase’s revenue was up .5% on a year-over-year basis. research analysts predict that Steelcase will post 0.98 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from Steelcase’s previous quarterly dividend of $0.13. Steelcase’s dividend payout ratio is presently 59.34%.

SCS has been the topic of a number of recent research reports. Zacks Investment Research raised Steelcase from a “sell” rating to a “hold” rating in a research report on Wednesday, March 28th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Steelcase in a research report on Monday, March 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

In other news, Director Peter M. Wege II sold 7,000 shares of the stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $13.46, for a total value of $94,220.00. Following the completion of the sale, the director now owns 246,391 shares of the company’s stock, valued at $3,316,422.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 18.87% of the company’s stock.

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Steelcase Company Profile

Steelcase Inc manufactures and sells integrated portfolio of furniture settings, user-centered technologies, and interior architectural products. The company operates through Americas, EMEA, and Other Category segments. Its furniture systems portfolio comprises panel-based and freestanding furniture systems, storage, desks, benches, tables, and complementary products, such as worktools.

Insider Buying and Selling by Quarter for Steelcase (NYSE:SCS)

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