Steelcase Inc. (NYSE:SCS) finished Wednesday with an addition of $0.52 to close at $11.25, an upside of 4.85 percent. An average of 1,705,540 shares of common stock have been traded in the last five days. There was a gain of $0.74 in the past week, and it reached a new high 27 times over the past 12 months. The last 20 days have seen an average of 1,364,420 shares traded, while the 50-day average volume stands at 837,520.
SCS stock has increased by 29.31% in the last month. The company shares reached their 1-month lowest point of $8.39 on 09/11/23. With the stock rallying to its 52-week high on 09/20/23, shares of the company touched a low of $6.20 and a high of $11.38 in 52 weeks. It has reached a new high 27 times so far this year and achieved 59.12% or $4.18 in price. In spite of this, the price is down -1.14% from the 52-week high.
Insider Transactions
SCS stock investors should be aware that Steelcase Inc. (SCS) stock had its last reported insider trading activity 6 days ago on Sep 22. In this transaction, the insider spent $330,600. VP, Global Operations, Krestakos Robert G, disposed of 5,000 shares at a price of $7.84 on Jul 18. The insider now owns more than $39,182 worth of shares. Prior to that, Director WEGE PETER M II went on to Sale 5,691 shares at $8.45 each on Mar 30. An amount of $48,103 was transacted.
Valuation Metrics
Steelcase Inc. (SCS) has a trailing price-to-earnings (P/E) ratio of 24.00. The stock’s beta is 1.30. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.40, the price-to-book (PB) ratio at 1.50, and the price-to-cash flow ratio at 5.33.
The company has a payout ratio of 163.12%. The company’s most recent quarterly dividend payment was $0.10 a share, without any change from last year. Its latest decrease dividend $0.0450 reported on Thursday September 22 2022.
Financial Health
The quick ratio of Steelcase Inc. for the recent quarter was 1.07, and the current ratio was 1.53, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.70 and a total debt to equity ratio of 0.76 for the recent quarter. Steelcase Inc.’s EBITDA margin is 4.91%, while its operating margin for the same period stands at 3.96%. Its gross profit as reported stood at $919.4 million compared to revenue of $3.23 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Steelcase Inc.’s return on assets was 2.39%.
Earnings Surprise
For the recent quarter, Steelcase Inc. had $445.9 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $27.5 million in the quarter, while revenues of $1.5 million were grew 28.73%. Shareholders own equity worth $114.06 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Steelcase Inc. (SCS) price momentum. RSI 9-day as of the close on 27 September was 80.21%, suggesting the stock is Overbought, with historical volatility in this time frame at 88.64%.
As of today, SCS’s price is $10.96 +7.04% or $0.74 from its 5-day moving average. SCS is currently trading +27.12% higher than its 20-day SMA and +47.44% higher than its 100-day SMA. However, the stock’s current price level is +43.13% above the SMA50 and +58.01% above the SMA200.
The stochastic %K and %D were 87.63% and 86.14%, respectively, and the average true range (ATR) was 0.47. With the 14-day stochastic at 95.65% and the average true range at 0.41, the RSI (14) stands at 77.67%. The stock has reached 0.82 on the 9-day MACD Oscillator while the 14-day reading was at 1.37.
Analyst Ratings
The Benchmark Company downgraded Steelcase Inc. (NYSE: SCS) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Steelcase Inc. (SCS) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SCS, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is SCS’s price target for the next 12 months?
Analysts predict a range of price targets between $10.76 and $11.00, with a median target of $10.88. Taking a look at these predictions, the average price target given by analysts for Steelcase Inc. (SCS) stock is $10.88.
