Sunday, September 20, 2020

Steelcase Inc. [SCS] Stock trading around $10.02 per share: What’s Next?

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Steelcase Inc. [NYSE: SCS] closed the trading session at $10.02 on 09/15/20. The day’s price range saw the stock hit a low of $9.965, while the highest price level was $10.41. The company report on September 2, 2020 that Steelcase to Webcast Second Quarter Conference Call.

Steelcase Inc. (NYSE: SCS) will webcast a discussion of its second quarter fiscal year 2021 financial results on Wednesday, September 23, 2020 at 8:30 a.m. ET. A link to the webcast will be available at http://ir.steelcase.com and a replay of the webcast will be available shortly after the call concludes. The news release detailing the financial results will be issued the previous day, September 22, 2020, after the market closes.

About Steelcase Inc. For over 108 years, Steelcase Inc. has helped create great experiences for the world’s leading organizations, across industries. We demonstrate this through our family of brands – including Steelcase®, Coalesse®, Designtex®, Turnstone®, Smith System®, Orangebox® and AMQ®. Together, they offer a comprehensive portfolio of architecture, furniture and technology products and services designed to unlock human promise and support social, economic and environmental sustainability. We are globally accessible through a network of channels, including approximately 800 Steelcase dealer locations. Steelcase is a global, industry-leading and publicly traded company with fiscal 2020 revenue of $3.7 billion.

The stocks have a year to date performance of -51.03 percent and weekly performance of -0.99 percent. The stock has been moved at 5.03 percent over the last six months. The stock has performed -12.11 percent around the most recent 30 days and changed -20.10 percent over the most recent 3-months.

If compared to the average trading volume of 771.41K shares, SCS reached to a volume of 4160718 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Steelcase Inc. [SCS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SCS shares is $12.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SCS stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Sidoti have made an estimate for Steelcase Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 15, 2020. The new note on the price target was released on August 24, 2020, representing the official price target for Steelcase Inc. stock.

The Average True Range (ATR) for Steelcase Inc. is set at 0.42, with the Price to Sales ratio for SCS stock in the period of the last 12 months amounting to 0.34. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 5.59. Price to Free Cash Flow for SCS in the course of the last twelve months was 5.43 with Quick ratio for the last quarter at 1.20.

SCS stock trade performance evaluation

Steelcase Inc. [SCS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.99. With this latest performance, SCS shares dropped by -12.11% in over the last four-week period, additionally plugging by 5.03% over the last 6 months – not to mention a drop of -40.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SCS stock in for the last two-week period is set at 41.14, with the RSI for the last a single of trading hit 41.83, and the three-weeks RSI is set at 42.63 for Steelcase Inc. [SCS]. The present Moving Average for the last 50 days of trading for this stock 10.78, while it was recorded at 9.88 for the last single week of trading, and 13.58 for the last 200 days.

Steelcase Inc. [SCS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Steelcase Inc. [SCS] shares currently have an operating margin of +6.82 and a Gross Margin at +32.59. Steelcase Inc.’s Net Margin is presently recorded at +5.26.

Return on Total Capital for SCS is now 16.67, given the latest momentum, and Return on Invested Capital for the company is 13.06. Return on Equity for this stock inclined to 21.51, with Return on Assets sitting at 8.32. When it comes to the capital structure of this company, Steelcase Inc. [SCS] has a Total Debt to Total Equity ratio set at 76.40. Additionally, SCS Total Debt to Total Capital is recorded at 43.31, with Total Debt to Total Assets ending up at 28.90. Long-Term Debt to Equity for the company is recorded at 71.66, with the Long-Term Debt to Total Capital now at 40.62.

Reflecting on the efficiency of the workforce at the company, Steelcase Inc. [SCS] managed to generate an average of $15,417 per employee. Receivables Turnover for the company is 9.52 with a Total Asset Turnover recorded at a value of 1.58.Steelcase Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Steelcase Inc. [SCS] stock

With the latest financial reports released by the company, Steelcase Inc. posted 0.5/share EPS, while the average EPS was predicted by analysts to be reported at 0.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SCS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Steelcase Inc. go to 10.00%.

Steelcase Inc. [SCS]: Insider Ownership positions

There are presently around $812 million, or 97.50% of SCS stock, in the hands of institutional investors. The top three institutional holders of SCS stocks are: VANGUARD GROUP INC with ownership of 8,831,439, which is approximately -6.55% of the company’s market cap and around 3.10% of the total institutional ownership; BLACKROCK INC., holding 7,637,965 shares of the stock with an approximate value of $76.53 million in SCS stocks shares; and EARNEST PARTNERS LLC, currently with $76.4 million in SCS stock with ownership of nearly 1.005% of the company’s market capitalization.

Positions in Steelcase Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 112 institutional holders increased their position in Steelcase Inc. [NYSE:SCS] by around 9,789,600 shares. Additionally, 117 investors decreased positions by around 9,654,527 shares, while 24 investors held positions by with 61,615,716 shares. The mentioned changes placed institutional holdings at 81,059,843 shares, according to the latest SEC report filing. SCS stock had 37 new institutional investments in for a total of 2,623,606 shares, while 32 institutional investors sold positions of 1,855,872 shares during the same period.

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