Steelcase (SCS) Earning Favorable Media Coverage, Analysis Finds

Press coverage about Steelcase (NYSE:SCS) has been trending positive on Thursday, according to Accern Sentiment. The research firm identifies positive and negative media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Steelcase earned a coverage optimism score of 0.32 on Accern’s scale. Accern also gave news coverage about the business services provider an impact score of 46.6302526621857 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:

Separately, Zacks Investment Research cut shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.00.

Shares of Steelcase (NYSE:SCS) traded down $0.25 during midday trading on Thursday, hitting $14.10. 290,532 shares of the stock traded hands, compared to its average volume of 703,161. The company has a market cap of $1,631.70, a price-to-earnings ratio of 15.84 and a beta of 1.20. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36. Steelcase has a one year low of $12.50 and a one year high of $18.15.

Steelcase (NYSE:SCS) last issued its earnings results on Tuesday, December 19th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $772.10 million for the quarter, compared to analyst estimates of $762.37 million. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. equities research analysts expect that Steelcase will post 0.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, December 28th. Steelcase’s dividend payout ratio (DPR) is presently 57.30%.

In other news, VP Sara E. Armbruster sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $14.80, for a total value of $44,400.00. Following the transaction, the vice president now owns 69,870 shares of the company’s stock, valued at approximately $1,034,076. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter M. Wege II sold 13,300 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $15.14, for a total transaction of $201,362.00. Following the completion of the transaction, the director now directly owns 254,244 shares in the company, valued at approximately $3,849,254.16. The disclosure for this sale can be found here. 18.87% of the stock is currently owned by company insiders.

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About Steelcase

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.

Insider Buying and Selling by Quarter for Steelcase (NYSE:SCS)

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