Steelcase (NYSE:SCS) Updates Q3 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.12-0.18 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.18. The company issued revenue guidance of $690-725 million, compared to the consensus revenue estimate of $703.83 million.Steelcase also updated its Q3 2021
After-Hours guidance to 0.12-0.18 EPS.

Shares of NYSE:SCS traded down $0.48 during trading on Tuesday, reaching $11.35. The stock had a trading volume of 2,485,974 shares, compared to its average volume of 896,109. Steelcase has a 52 week low of $7.02 and a 52 week high of $23.02. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.62 and a beta of 1.58. The company has a quick ratio of 1.24, a current ratio of 1.56 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $10.84 and a two-hundred day simple moving average of $10.97.

Steelcase (NYSE:SCS) last announced its earnings results on Tuesday, June 30th. The business services provider reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.04). Steelcase had a return on equity of 15.48% and a net margin of 4.25%. The company had revenue of $482.80 million for the quarter, compared to the consensus estimate of $530.33 million. During the same period last year, the firm posted $0.15 EPS. The company’s revenue was down 41.4% compared to the same quarter last year.

A number of equities analysts recently issued reports on SCS shares. Sidoti raised shares of Steelcase from a neutral rating to a buy rating in a research report on Tuesday, September 15th. Benchmark lowered shares of Steelcase from a buy rating to a hold rating in a research report on Monday, August 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $18.67.

About Steelcase

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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Steelcase (NYSE:SCS) Updates Q3 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.12-0.18 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.18. The company issued revenue guidance of $690-725 million, compared to the consensus revenue estimate of $703.83 million.Steelcase also updated its Q3 2021
After-Hours guidance to 0.12-0.18 EPS.

Shares of NYSE:SCS traded down $0.48 during trading on Tuesday, reaching $11.35. The stock had a trading volume of 2,485,974 shares, compared to its average volume of 896,109. Steelcase has a 52 week low of $7.02 and a 52 week high of $23.02. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.62 and a beta of 1.58. The company has a quick ratio of 1.24, a current ratio of 1.56 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $10.84 and a two-hundred day simple moving average of $10.97.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Tuesday, June 30th. The business services provider reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.04). Steelcase had a net margin of 4.25% and a return on equity of 15.48%. The firm had revenue of $482.80 million during the quarter, compared to the consensus estimate of $530.33 million. During the same period in the prior year, the business earned $0.15 EPS. The company’s revenue for the quarter was down 41.4% compared to the same quarter last year.

A number of equities analysts recently issued reports on SCS shares. Sidoti raised shares of Steelcase from a neutral rating to a buy rating in a research report on Tuesday, September 15th. Benchmark lowered shares of Steelcase from a buy rating to a hold rating in a research report on Monday, August 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $18.67.

About Steelcase

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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