Steelcase (NYSE:SCS) Updates FY25 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.85-1.00 for the period, compared to the consensus EPS estimate of $0.98. Steelcase also updated its FY 2025 guidance to 1.000-1.000 EPS.

Wall Street Analysts Forecast Growth

Separately, Benchmark lifted their price target on Steelcase from $17.00 to $18.00 and gave the stock a buy rating in a research note on Friday, June 21st.

Steelcase Price Performance

Shares of Steelcase stock opened at $12.91 on Friday. The company’s fifty day simple moving average is $13.52 and its two-hundred day simple moving average is $13.03. Steelcase has a 12-month low of $10.29 and a 12-month high of $14.74. The firm has a market cap of $1.47 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.51.

Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, September 18th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $864.17 million. Steelcase had a return on equity of 13.66% and a net margin of 2.89%. Steelcase’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. As a group, equities analysts expect that Steelcase will post 1 EPS for the current year.

Steelcase Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Monday, September 30th. Steelcase’s payout ratio is 52.63%.

Insider Activity at Steelcase

In other news, CAO Nicole Cherie Mcgrath sold 15,749 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $13.94, for a total value of $219,541.06. Following the completion of the sale, the chief accounting officer now directly owns 18,453 shares of the company’s stock, valued at approximately $257,234.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Nicole Cherie Mcgrath sold 15,749 shares of Steelcase stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $13.94, for a total transaction of $219,541.06. Following the sale, the chief accounting officer now directly owns 18,453 shares in the company, valued at $257,234.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David C. Sylvester sold 73,184 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $13.84, for a total value of $1,012,866.56. Following the transaction, the chief financial officer now directly owns 551,592 shares of the company’s stock, valued at approximately $7,634,033.28. The disclosure for this sale can be found here. Insiders have sold a total of 174,187 shares of company stock worth $2,410,861 over the last quarter. Corporate insiders own 12.96% of the company’s stock.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International 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, mobile power, and screens.