Steelcase (SCS) Scheduled to Post Earnings on Wednesday

Steelcase (NYSE:SCS – Get Rating) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, March 22nd. Analysts expect Steelcase to post earnings of $0.06 per share for the quarter. Steelcase has set its Q4 2023 guidance at $0.11-$0.15 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Steelcase (NYSE:SCS – Get Rating) last announced its quarterly earnings data on Monday, December 19th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $826.90 million for the quarter. Steelcase had a net margin of 0.55% and a return on equity of 4.85%. On average, analysts expect Steelcase to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Steelcase Stock Performance

Shares of NYSE:SCS opened at $7.31 on Wednesday. The company’s 50 day simple moving average is $7.65 and its 200 day simple moving average is $7.92. The stock has a market capitalization of $824.42 million, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.35 and a quick ratio of 0.79. Steelcase has a 1 year low of $6.20 and a 1 year high of $12.57.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $0.40 dividend on an annualized basis and a yield of 5.47%. Steelcase’s dividend payout ratio (DPR) is 266.67%.

Institutional Trading of Steelcase

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new stake in shares of Steelcase during the first quarter worth $33,000. Captrust Financial Advisors grew its stake in shares of Steelcase by 179.6% during the first quarter. Captrust Financial Advisors now owns 4,141 shares of the business services provider’s stock worth $49,000 after buying an additional 2,660 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Steelcase during the fourth quarter worth $65,000. Two Sigma Investments LP bought a new stake in shares of Steelcase during the fourth quarter worth $72,000. Finally, Alpine Global Management LLC bought a new stake in shares of Steelcase in the fourth quarter worth $78,000. Institutional investors own 74.01% of the company’s stock.

Analysts Set New Price Targets

Separately, Benchmark cut shares of Steelcase from a “buy” rating to a “hold” rating in a research note on Tuesday, November 29th.

Steelcase Company Profile

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Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through the Americas, EMEA, and Other Category segments. The firm’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 work tools and screens.