Steelcase Inc. (NYSE:SCS) shares, rose in value on Friday, May 26, with the stock price up by 3.64% to the previous day’s close as strong demand from buyers drove the stock to $7.11.
Actively observing the price movement in the last trading, the stock closed the session at $6.86, falling within a range of $6.845 and $7.12. The value of beta (5-year monthly) was 1.36 whereas the PE ratio was 23.78 over 12-month period. Referring to stock’s 52-week performance, its high was $12.43, and the low was $6.20. On the whole, SCS has fluctuated by -10.00% over the past month.
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With the market capitalization of Steelcase Inc. currently standing at about $837.06 million, investors are eagerly awaiting this quarter’s results, scheduled for Jun 20, 2023 – Jun 26, 2023. The company’s Forward Dividend Ratio is 0.40, with its dividend yield at 5.63%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.01, which is expected to increase to $0.23 for fiscal year $0.67 and then to about $0.82 by fiscal year 2025. Data indicates that the EPS growth is expected to be 19.60% in 2025, while the next year’s EPS growth is forecast to be 22.40%.
Analysts have estimated the company’s revenue for the quarter at $718.15 million, with a low estimate of $714.9 million and a high estimate of $720.9 million. According to the average forecast, sales growth in current quarter could jump down -3.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $3.24 billion, representing an increase of 0.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SCS’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 2.38, with the price of SCS currently trading nearly -4.78% and -8.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.47, while the 7-day volatility ratio is showing 3.93% which for the 30-day chart, stands at 4.22%. Furthermore, Steelcase Inc. (SCS)’s beta value is 1.36, and its average true range (ATR) is 0.31.
A comparison of Steelcase Inc. (SCS) with its peers suggests the former has fared considerably weaker in the market. SCS showed an intraday change of 3.64% in last session, and over the past year, it shrunk by -40.55%%. In comparison, HNI Corporation (HNI) has moved higher at 1.88% on the day and was down -29.36% over the past 12 months. On the other hand, the price of Kewaunee Scientific Corporation (KEQU) has fallen -1.94% on the day. The stock, however, is off 17.24% from where it was a year ago. Additionally, there is a gain of 1.24% for MillerKnoll Inc. (MLKN) in last trading while the stock has seen an overall depriciation of -48.56%% over the past year. The PE ratio stands at 23.78 for Steelcase Inc., compared to 9.99 for HNI Corporation. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 1.30%. Meanwhile, the Dow Jones Industrial Improved by 1.00%.
Data on historical trading for Steelcase Inc. (NYSE:SCS) indicates that the trading volumes over the past 10 days have averaged 1.96 million and over the past 3 months, they’ve averaged 1.00 million. According to company’s latest data on outstanding shares, there are 112.80 million shares outstanding.
Nearly 1.70% of Steelcase Inc.’s shares belong to company insiders and institutional investors own 94.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.64 million shares as on May 14, 2023, resulting in a short ratio of 6.35. According to the data, the short interest in Steelcase Inc. (SCS) stood at 4.07% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 4.83 million. The stock has risen by 0.57% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SCS stock heading into the next quarter.