Steelcase (SCS) to Release Quarterly Earnings on Wednesday

Steelcase (NYSE:SCSGet Rating) will announce its earnings results after the market closes on Wednesday, September 21st. Steelcase has set its Q2 2023 guidance at $0.11-$0.15 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Steelcase (NYSE:SCSGet Rating) last announced its quarterly earnings results on Wednesday, June 22nd. The business services provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.13. The company had revenue of $740.70 million for the quarter. Steelcase had a return on equity of 3.10% and a net margin of 0.70%.

Steelcase Stock Performance

Shares of SCS stock opened at $10.76 on Wednesday. Steelcase has a 52-week low of $10.19 and a 52-week high of $13.79. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.21 billion, a PE ratio of 63.30 and a beta of 1.14. The business has a 50-day simple moving average of $11.31 and a 200-day simple moving average of $11.51.

Steelcase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 18th. Shareholders of record on Thursday, July 7th were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend was Wednesday, July 6th. Steelcase’s payout ratio is presently 341.20%.

Insider Activity at Steelcase

In other Steelcase news, CAO Lizbeth S. O’shaughnessy sold 30,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $11.26, for a total transaction of $337,800.00. Following the transaction, the chief accounting officer now directly owns 288,388 shares of the company’s stock, valued at $3,247,248.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Steelcase

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in shares of Steelcase in the first quarter valued at about $33,000. Captrust Financial Advisors grew its stake in Steelcase by 179.6% during the 1st quarter. Captrust Financial Advisors now owns 4,141 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 2,660 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Steelcase by 70.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 11,388 shares of the business services provider’s stock valued at $143,000 after acquiring an additional 4,688 shares during the last quarter. HighTower Advisors LLC lifted its stake in Steelcase by 32.8% in the 1st quarter. HighTower Advisors LLC now owns 14,724 shares of the business services provider’s stock worth $177,000 after purchasing an additional 3,635 shares in the last quarter. Finally, Sawtooth Solutions LLC acquired a new position in shares of Steelcase during the 1st quarter worth approximately $233,000. Institutional investors and hedge funds own 76.11% of the company’s stock.

Steelcase Company Profile

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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.

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Earnings History for Steelcase (NYSE:SCS)

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