Steelcase (NYSE:SCS) Posts Earnings Results, Beats Estimates By $0.06 EPS

Steelcase (NYSE:SCS) released its earnings results on Wednesday. The business services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06, Zacks reports. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business had revenue of $788.00 million during the quarter, compared to analysts’ expectations of $790.90 million. During the same quarter last year, the company earned $0.23 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. Steelcase updated its Q1 guidance to $0.13-0.17 EPS.

Steelcase Stock Performance

Shares of NYSE:SCS traded up $0.04 during trading on Wednesday, hitting $10.62. 1,095,630 shares of the stock were exchanged, compared to its average volume of 611,261. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. Steelcase has a 1-year low of $10.31 and a 1-year high of $14.74. The company’s fifty day simple moving average is $11.63 and its 200-day simple moving average is $12.38.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the sale, the vice president now owns 114,481 shares of the company’s stock, valued at $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.96% of the stock is currently owned by corporate insiders.

About Steelcase

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.