The price of Steelcase Inc. (NYSE:SCS) shares last traded on Wall Street fell -4.27% to $7.18.
Based on available information, 1 analysts follow Steelcase Inc. (NYSE:SCS). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $11.00 and a low of $7.00, we find $9.00. Given the previous closing price of $7.50, this indicates a potential upside of 20.0 percent. SCS stock price is now -5.72% away from the 50-day moving average and -20.52% away from the 200-day moving average. The market capitalization of the company currently stands at $832.88M.
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Among analysts, 1 rate the stock a hold while 0 rate it a buy. Brokers who have rated the stock have averaged $9.00 as their price target over the next twelve months.
On October 04, 2022, Sidoti Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $11, while ‘Berenberg’ rates the stock as ‘Buy’.
In other news, Armbruster Sara E, President and CEO bought 5,735 shares of the company’s stock on Sep 28. The stock was bought for $39,164 at an average price of $6.83. Upon completion of the transaction, the President and CEO now directly owns 498,511 shares in the company, valued at $3.58 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 03, SVP, CAO, GC and Secretary O’Shaughnessy Lizbeth S sold 30,000 shares of the business’s stock. A total of $337,923 was realized by selling the stock at an average price of $11.26. This leaves the insider owning 288,388 shares of the company worth $2.07 million. Insiders disposed of 86,378 shares of company stock worth roughly $0.62 million over the past 1 year. A total of 1.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SCS stock. A new stake in Steelcase Inc. shares was purchased by KENT LAKE CAPITAL LLC during the first quarter worth $2,757,000. STATE OF NEW JERSEY COMMON PENSION FUND D invested $1,968,000 in shares of SCS during the first quarter. In the first quarter, DYNAMIC TECHNOLOGY LAB PRIVATE LTD acquired a new stake in Steelcase Inc. valued at approximately $1,257,000. OCCUDO QUANTITATIVE STRATEGIES LP acquired a new stake in SCS for approximately $1,151,000. JUMP FINANCIAL, LLC purchased a new stake in SCS valued at around $526,000 in the second quarter. In total, there are 277 active investors with 94.30% ownership of the company’s stock.
A candlestick chart of Steelcase Inc. (NYSE: SCS) showed a price of $7.32 on Monday morning. During the past 12 months, Steelcase Inc. has had a low of $6.20 and a high of $12.57. As of last week, the company has a debt-to-equity ratio of 0.64, a current ratio of 1.30, and a quick ratio of 0.80. The fifty day moving average price for SCS is $7.62 and a two-hundred day moving average price translates $9.03 for the stock.
The latest earnings results from Steelcase Inc. (NYSE: SCS) was released for Nov, 2022. According to the Business Equipment & Supplies Company, earnings per share came in at $0.2, beating analysts’ expectations of $0.18 by 0.02. This compares to $0.08 EPS in the same period last year. The net profit margin was 0.50% and return on equity was 2.10% for SCS. The company reported revenue of $826.9 million for the quarter, compared to $738.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.02 percent. For the current quarter, analysts expect SCS to generate $753.37M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/13/2023. Investors who held shares on 01/03/2023 were paid a $0.10 dividend. On an annualized basis, this represents a $0.40 dividend and a 5.57% percent yield. There was an ex-dividend date of 12/30/2022 for this dividend. In terms of dividend payout ratio, SCS is presently at 359.70%.
Steelcase Inc.(SCS) Company Profile
Steelcase Inc. provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other 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, and mobile power and screens. Its seating products comprise task chairs; seating for collaborative environments and casual settings; and specialty seating for specific vertical markets, including education and healthcare. The company’s interior architectural products comprise full and partial height walls and architectural pods. It also provides textiles, wall coverings, and surface imaging solutions for architects and designers; and workplace strategy consulting, lease origination, and furniture and asset management services. The company markets and sells its products to corporate, government, healthcare, education, and retail customers under the Steelcase, Designtex, Coalesse, AMQ, Smith System, Orangebox, and Viccarbe brands. It distributes its products and services through a network of independent and company-owned dealers, as well as directly to end-use customers. The company was founded in 1912 and is headquartered in Grand Rapids, Michigan.
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