Steelcase (SCS) Announces Quarterly Results, Beats Estimates By $0.05 EPS
Wednesday, June 22, 2021 6:10 PM

Steelcase (SCS) announced its quarterly results on Wednesday. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.05. The company’s quarterly revenue was up 18.0% on a year-over-year basis.

On a related note, analysts at BB&T (NYSE: BBT) raised their price target on shares of Steelcase to $13.00 in a research note to investors on Monday, March 21st. They now have a "buy" rating on the stock. Also, analysts at Zacks Investment Research downgraded shares of Steelcase from an "outperform" rating to a "neutral" rating in a research note to investors on Friday, January 28th.

Shares of Steelcase (SCS) traded down 1.70% during mid-day trading on Wednesday, hitting $10.40. Steelcase (SCS) has a 52 week low of $6.17 and a 52 week high of $12.12. The stock's 50-day moving average is $10.49 and its 200-day moving average is $10.50. The company has a market cap of $1.369 billion and a price-to-earnings ratio of 70.53.

Steelcase Inc. (Steelcase) is engaged in furnishing the work experience in office environments. It designs for a variety of customer needs through three core brands: Steelcase, Turnstone and Coalesse. The primary focus of these brands is the office furniture segment, but it also serves needs in areas, such as healthcare, education and distributed work. Steelcase offers products and services to customers around the globe, and has sales, manufacturing and administrative operations in North America, Europe and Asia. It markets the products and services primarily through a networked group of independent dealers, and also sells directly to customers.

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