Update from Steelcase Inc. (SCS): A steady trajectory

Steelcase Inc. (NYSE: SCS) closed the day trading at 8.31 down -10.06% from the previous closing price of $9.24. In other words, the price has decreased by $-0.93 from its previous closing price. On the day, 3143538 shares were traded. SCS reached its highest trading level at $9.16 during the session, while it also had its lowest trading level at $8.06.

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Ratios:

For a better understanding of SCS, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.90 and its Current Ratio is at 1.60. In the meantime, Its Debt-to-Equity ratio is 0.59 whereas as Long-Term Debt/Eq ratio is at 0.55.

Upgrades & Downgrades

On May 11, 2021, Berenberg started tracking the stock assigning a Buy rating and target price of $17.

The Benchmark Company Upgraded its Hold to Buy on May 07, 2021, while the target price for the stock was maintained at $17.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Aug 03 when O’Shaughnessy Lizbeth S sold 30,000 shares for $11.26 per share. The transaction valued at 337,923 led to the insider holds 288,388 shares of the business.

Niemann Jennifer C sold 3,900 shares of SCS for $46,708 on Apr 27. The Director now owns 19,346 shares after completing the transaction at $11.98 per share.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, SCS now has a Market Capitalization of 1.04B and an Enterprise Value of 1.62B. As of this moment, Steelcase’s Price-to-Earnings (P/E) ratio for their current fiscal year is 47.49, and their Forward P/E ratio for the next fiscal year is 8.07. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.75. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.33 while its Price-to-Book (P/B) ratio in mrq is 1.15. Its current Enterprise Value per Revenue stands at 0.52 whereas that against EBITDA is 12.13.

Stock Price History:

The Beta on a monthly basis for SCS is 1.13, which has changed by -33.78% over the last 52 weeks, in comparison to a change of -15.65% over the same period for the S&P500. Over the past 52 weeks, SCS has reached a high of $13.41, while it has fallen to a 52-week low of $9.12. The 50-Day Moving Average of the stock is 11.13, while the 200-Day Moving Average is calculated to be 11.58.

Shares Statistics:

Over the past 3-months, SCS traded about 576.48K shares per day on average, while over the past 10 days, SCS traded about 1.22M shares per day. A total of 112.70M shares are outstanding, with a floating share count of 106.14M. Insiders hold about 2.60% of the company’s shares, while institutions hold 96.80% stake in the company. Shares short for SCS as of Aug 30, 2022 were 4.55M with a Short Ratio of 7.89, compared to 4.34M on Jul 28, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.04% and a Short% of Float of 5.03%.

Dividends & Splits

SCS’s forward annual dividend rate is 0.58, up from 0.58 a year ago. Against a Trailing Annual Dividend Yield of 6.28%, it implies a Forward Annual Dividend Yield of 6.20%. The stock’s 5-year Average Dividend Yield is 3.71.

Earnings Estimates

Current recommendations for the stock of the company come from 4 analysts. On average, analysts expect EPS of $0.23 for the current quarter, with a high estimate of $0.32 and a low estimate of $0.17, while EPS last year was $0.08. The consensus estimate for the next quarter is $0.27, with high estimates of $0.35 and low estimates of $0.14.

Analysts are recommending an EPS of between $0.68 and $0.39 for the fiscal current year, implying an average EPS of $0.58. EPS for the following year is $1.03, with 4 analysts recommending between $1.19 and $0.72.

Revenue Estimates

A total of 4 analysts have provided revenue estimates for SCS’s current fiscal year. The highest revenue estimate was $3.34B, while the lowest revenue estimate was $3.31B, resulting in an average revenue estimate of $3.32B. In the same quarter a year ago, actual revenue was $2.77B, up 19.80% from the average estimate. Based on 4 analysts’ estimates, the company’s revenue will be $3.54B in the next fiscal year. The high estimate is $3.67B and the low estimate is $3.42B. The average revenue growth estimate for next year is up 6.70% from the average revenue estimate for this year.