Somewhat Positive News Coverage Very Likely to Impact Steelcase (SCS) Share Price
Headlines about Steelcase (NYSE:SCS) have been trending somewhat positive recently, Alpha One reports. The research group, a service of Accern, scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Alpha One ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Steelcase earned a daily sentiment score of 0.14 on Alpha One’s scale. Alpha One also gave headlines about the business services provider an impact score of 84 out of 100, meaning that recent press coverage is very likely to have an impact on the stock’s share price in the next few days.
SCS has been the topic of several recent research reports. Raymond James Financial, Inc. raised shares of Steelcase from a “market perform” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research note on Thursday, March 23rd. Zacks Investment Research downgraded shares of Steelcase from a “hold” rating to a “sell” rating in a research note on Thursday, March 23rd. Finally, ValuEngine downgraded shares of Steelcase from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.
Shares of Steelcase (NYSE:SCS) traded down 0.59% during midday trading on Friday, reaching $16.90. 814,747 shares of the company traded hands. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 16.41 and a beta of 1.18. Steelcase has a 12 month low of $12.67 and a 12 month high of $18.15. The company’s 50 day moving average is $16.96 and its 200-day moving average is $16.64.
Steelcase (NYSE:SCS) last posted its quarterly earnings results on Tuesday, March 21st. The business services provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Steelcase had a net margin of 4.11% and a return on equity of 17.27%. The business had revenue of $769.10 million during the quarter, compared to analysts’ expectations of $750.83 million. During the same quarter in the previous year, the business posted $0.22 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts forecast that Steelcase will post $1.19 earnings per share for the current fiscal year.
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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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