Steelcase Inc. (NYSE:SCS) has been given a consensus recommendation of “Hold” by the seven analysts that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $16.00.
Several equities analysts have recently weighed in on SCS shares. TheStreet raised Steelcase from a “c+” rating to a “b-” rating in a report on Tuesday, October 3rd. Zacks Investment Research cut Steelcase from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Finally, Sidoti cut Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Wednesday, September 20th.
In related news, VP Sara E. Armbruster sold 3,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $14.80, for a total value of $44,400.00. Following the transaction, the vice president now directly owns 69,870 shares of the company’s stock, valued at approximately $1,034,076. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter M. Wege II sold 13,300 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $15.14, for a total value of $201,362.00. Following the completion of the transaction, the director now directly owns 254,244 shares in the company, valued at $3,849,254.16. The disclosure for this sale can be found here. 18.87% of the stock is currently owned by company insiders.
Steelcase (NYSE SCS) traded down $0.30 during midday trading on Tuesday, hitting $15.40. The stock had a trading volume of 1,030,247 shares, compared to its average volume of 849,078. The company has a market cap of $1,780.00, a PE ratio of 17.30 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.58 and a quick ratio of 1.23. Steelcase has a 12-month low of $12.50 and a 12-month high of $18.15.
Steelcase (NYSE:SCS) last released its quarterly earnings results on Tuesday, December 19th. The business services provider reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $772.10 million for the quarter, compared to analysts’ expectations of $762.37 million. Steelcase had a return on equity of 13.62% and a net margin of 3.49%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. analysts expect that Steelcase will post 0.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a $0.1275 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.51 dividend on an annualized basis and a yield of 3.31%. Steelcase’s dividend payout ratio is currently 57.30%.
COPYRIGHT VIOLATION WARNING: This piece was first published by BBNS and is the sole property of of BBNS. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://baseballnewssource.com/markets/steelcase-inc-scs-receives-16-00-consensus-price-target-from-brokerages/1827192.html.
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
Receive News & Ratings for Steelcase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steelcase and related companies with our FREE daily email newsletter.