Steelcase (SCS) closed the most recent trading day at $17.95, making no change from the previous trading session. This change was narrower than the S&P 500's 0.2% loss on the day. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Prior to today's trading, shares of the office furniture maker had gained 1.87% over the past month. This has lagged the Business Services sector's gain of 2.56% and the S&P 500's gain of 7.08% in that time.
SCS will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.35, down 2.78% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $935.70 million, up 3.85% from the year-ago period.
SCS's full-year Zacks Consensus Estimates are calling for earnings of $1.35 per share and revenue of $3.73 billion. These results would represent year-over-year changes of +12.5% and +8.43%, respectively.
Investors might also notice recent changes to analyst estimates for SCS. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SCS is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note SCS's current valuation metrics, including its Forward P/E ratio of 13.3. This represents a no noticeable deviation compared to its industry's average Forward P/E of 13.3.
The Business - Office Products industry is part of the Business Services sector. This group has a Zacks Industry Rank of 4, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Steelcase Inc. (SCS) : Free Stock Analysis Report
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