Zacks: Steelcase Inc. (NYSE:SCS) Receives Average Rating of “Hold” from Brokerages
Shares of Steelcase Inc. (NYSE:SCS) have been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation. Steelcase’s rating score has declined by 50% from three months ago as a result of various analysts’ ratings changes.
Zacks has also given Steelcase an industry rank of 60 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised shares of Steelcase from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd.
In other news, VP Sara E. Armbruster sold 14,000 shares of the firm’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $13.50, for a total value of $189,000.00. Following the transaction, the vice president now owns 99,711 shares of the company’s stock, valued at approximately $1,346,098.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.68% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. UBS Group AG increased its position in shares of Steelcase by 3,518.4% in the first quarter. UBS Group AG now owns 210,046 shares of the company’s stock worth $3,134,000 after buying an additional 204,241 shares in the last quarter. Zebra Capital Management LLC purchased a new stake in Steelcase during the first quarter valued at about $1,284,000. Menta Capital LLC increased its stake in Steelcase by 9.2% in the first quarter. Menta Capital LLC now owns 82,739 shares of the company’s stock valued at $1,234,000 after buying an additional 7,000 shares during the period. Royce & Associates LP increased its stake in Steelcase by 11.9% in the first quarter. Royce & Associates LP now owns 1,855,970 shares of the company’s stock valued at $27,691,000 after buying an additional 197,600 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Steelcase by 7.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,314,379 shares of the company’s stock valued at $34,531,000 after buying an additional 158,455 shares during the period. 65.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Steelcase (NYSE:SCS) traded down 3.10% during midday trading on Friday, hitting $14.06. 540,917 shares of the stock traded hands. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 10.14 and a beta of 1.38. The firm has a 50-day moving average price of $14.37 and a 200 day moving average price of $14.73. Steelcase has a one year low of $11.67 and a one year high of $20.37.
Steelcase (NYSE:SCS) last issued its earnings results on Wednesday, September 21st. The company reported $0.32 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.32. Steelcase had a net margin of 5.67% and a return on equity of 17.52%. The business had revenue of $758 million for the quarter. During the same period in the prior year, the business posted $0.35 EPS. The business’s revenue was down 7.4% on a year-over-year basis. Analysts anticipate that Steelcase will post $1.10 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Tuesday, October 4th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, September 30th. Steelcase’s dividend payout ratio is presently 35.04%.
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.
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