Q3 2018 Earnings Forecast for Steelcase Inc. (SCS) Issued By Seaport Global Securities

Steelcase Inc. (NYSE:SCS) – Stock analysts at Seaport Global Securities dropped their Q3 2018 earnings estimates for shares of Steelcase in a note issued to investors on Friday. Seaport Global Securities analyst M. Mccall now anticipates that the business services provider will post earnings per share of $0.22 for the quarter, down from their previous forecast of $0.23. Seaport Global Securities also issued estimates for Steelcase’s FY2018 earnings at $0.89 EPS and FY2019 earnings at $1.08 EPS.

Several other equities analysts also recently issued reports on SCS. Zacks Investment Research downgraded Steelcase from a “hold” rating to a “sell” rating in a research report on Tuesday. Sidoti downgraded Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Wednesday, September 20th. ValuEngine downgraded Steelcase from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, TheStreet raised Steelcase from a “c+” rating to a “b-” rating in a research report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.00.

Shares of Steelcase (NYSE:SCS) traded up $0.25 during mid-day trading on Monday, hitting $14.20. The stock had a trading volume of 1,166,700 shares, compared to its average volume of 717,198. The firm has a market capitalization of $1,618.67, a P/E ratio of 13.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.63. Steelcase has a 1-year low of $12.50 and a 1-year high of $18.15.

Steelcase (NYSE:SCS) last issued its quarterly earnings results on Monday, September 18th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $775.60 million for the quarter, compared to the consensus estimate of $759.83 million. Steelcase had a return on equity of 15.72% and a net margin of 3.98%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share.

A number of large investors have recently bought and sold shares of SCS. New York State Teachers Retirement System purchased a new stake in shares of Steelcase during the 3rd quarter worth about $117,000. Public Employees Retirement System of Ohio boosted its stake in shares of Steelcase by 9.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,833 shares of the business services provider’s stock worth $152,000 after acquiring an additional 947 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Steelcase by 3.4% during the 2nd quarter. Amalgamated Bank now owns 10,913 shares of the business services provider’s stock worth $153,000 after acquiring an additional 358 shares in the last quarter. AXA purchased a new stake in shares of Steelcase during the 2nd quarter worth about $169,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Steelcase during the 3rd quarter worth about $256,000. 62.23% of the stock is currently owned by institutional investors.

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Steelcase Company Profile

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.

Earnings History and Estimates for Steelcase (NYSE:SCS)

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