Steelcase (NYSE:SCS) released its quarterly earnings results on Friday. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.07, Briefing.com reports. The firm had revenue of $998.00 million for the quarter, compared to the consensus estimate of $980.87 million. Steelcase had a return on equity of 18.33% and a net margin of 3.80%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS.
SCS stock opened at $18.39 on Monday. The company has a market cap of $1.96 billion, a P/E ratio of 15.33 and a beta of 1.35. Steelcase has a 1 year low of $13.96 and a 1 year high of $19.35. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.13. The stock’s fifty day moving average price is $15.98 and its 200-day moving average price is $16.51.
The company also recently declared a dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be paid a $0.145 dividend. The ex-dividend date of this dividend is Friday, September 27th. Steelcase’s dividend payout ratio (DPR) is currently 48.33%.
In related news, CEO James P. Keane sold 100,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $17.45, for a total value of $1,745,000.00. Following the transaction, the chief executive officer now directly owns 808,927 shares of the company’s stock, valued at approximately $14,115,776.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Lizbeth S. O’shaughnessy sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $17.11, for a total value of $342,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 209,840 shares in the company, valued at $3,590,362.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,037 shares of company stock worth $2,557,519. 17.04% of the stock is owned by insiders.
Steelcase Company Profile
Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company'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 worktools.
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