The stock of Steelcase Inc. (NYSE:SCS) last traded at $7.19, up 2.42% from the previous session.
Data from the available sources indicates that Steelcase Inc. (NYSE:SCS) is covered by 1 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $9.60, we find $10.80. Given the previous closing price of $7.02, this indicates a potential upside of 53.85 percent. SCS stock price is now -7.90% away from the 50-day moving average and -12.13% away from the 200-day moving average. The market capitalization of the company currently stands at $846.48M.
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In total, 1 analysts have assigned it a hold rating, and 0 have given it a buy rating. Brokers who have rated the stock have averaged $10.80 as their price target over the next twelve months.
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In other news, WEGE PETER M II, Director sold 5,691 shares of the company’s stock on Mar 30. The stock was sold for $48,103 at an average price of $8.45. Upon completion of the transaction, the Director now directly owns 199,644 shares in the company, valued at $1.44 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 29, Director WEGE PETER M II sold 23,248 shares of the business’s stock. A total of $198,538 was realized by selling the stock at an average price of $8.54. This leaves the insider owning 205,335 shares of the company worth $1.48 million. Insiders disposed of 185,553 shares of company stock worth roughly $1.33 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 PARKWOOD LLC during the first quarter worth $5,664,000. MARSHALL WACE, LLP invested $2,285,000 in shares of SCS during the first quarter. In the first quarter, TUDOR INVESTMENT CORP ET AL acquired a new stake in Steelcase Inc. valued at approximately $2,012,000. HRT FINANCIAL LP acquired a new stake in SCS for approximately $1,781,000. RENAISSANCE TECHNOLOGIES LLC purchased a new stake in SCS valued at around $1,002,000 in the second quarter. In total, there are 275 active investors with 94.30% ownership of the company’s stock.
With an opening price of $7.02 on Tuesday morning, Steelcase Inc. (NYSE: SCS) set off the trading day. During the past 12 months, Steelcase Inc. has had a low of $6.20 and a high of $12.43. As of last week, the company has a debt-to-equity ratio of 0.58, a current ratio of 1.50, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $1.56B, which is based on a 24.05 price-to-earnings ratio, a 2.40 price-to-earnings-growth ratio, and a beta of 1.36. The fifty day moving average price for SCS is $7.81 and a two-hundred day moving average price translates $8.16 for the stock.
The latest earnings results from Steelcase Inc. (NYSE: SCS) was released for Feb, 2023. According to the Business Equipment & Supplies Company, earnings per share came in at $0.19, beating analysts’ expectations of $0.11 by 0.08. This compares to -$0.02 EPS in the same period last year. The net profit margin was 1.10% and return on equity was 4.20% for SCS. The company reported revenue of $801.7 million for the quarter, compared to $753.1 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.45 percent. For the current quarter, analysts expect SCS to generate $718.15M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/14/2023. Investors who held shares on 04/05/2023 were paid a $0.10 dividend. On an annualized basis, this represents a $0.40 dividend and a 5.56% percent yield. There was an ex-dividend date of 04/04/2023 for this dividend. In terms of dividend payout ratio, SCS is presently at 162.60%.
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, AMQ, Coalesse, HALCON, Orangebox, Smith System, Designtex, 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 incorporated in 1912 and is headquartered in Grand Rapids, Michigan.
