U.S. markets closed
  • S&P 500

    3,390.68
    -10.29 (-0.30%)
     
  • Dow 30

    27,463.19
    -222.19 (-0.80%)
     
  • Nasdaq

    11,431.35
    +72.41 (+0.64%)
     
  • Russell 2000

    1,591.75
    -13.46 (-0.84%)
     
  • Crude Oil

    39.43
    +0.87 (+2.26%)
     
  • Gold

    1,909.90
    +4.20 (+0.22%)
     
  • Silver

    24.51
    +0.09 (+0.39%)
     
  • EUR/USD

    1.1813
    0.0000 (-0.00%)
     
  • 10-Yr Bond

    0.7780
    -0.0230 (-2.87%)
     
  • GBP/USD

    1.3053
    +0.0032 (+0.25%)
     
  • USD/JPY

    104.4830
    -0.3520 (-0.34%)
     
  • BTC-USD

    13,644.86
    +537.63 (+4.10%)
     
  • CMC Crypto 200

    270.54
    +9.25 (+3.54%)
     
  • FTSE 100

    5,728.99
    -63.02 (-1.09%)
     
  • Nikkei 225

    23,485.80
    -8.54 (-0.04%)
     

Has Steelcase (SCS) Outpaced Other Business Services Stocks This Year?

Zacks Equity Research

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Steelcase (SCS) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

Steelcase is one of 193 companies in the Business Services group. The Business Services group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SCS is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for SCS's full-year earnings has moved 5.47% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, SCS has gained about 23.60% so far this year. Meanwhile, stocks in the Business Services group have gained about 22.84% on average. As we can see, Steelcase is performing better than its sector in the calendar year.

Looking more specifically, SCS belongs to the Business - Office Products industry, a group that includes 5 individual stocks and currently sits at #27 in the Zacks Industry Rank. This group has gained an average of 34.10% so far this year, so SCS is slightly underperforming its industry in this area.

Investors with an interest in Business Services stocks should continue to track SCS. The stock will be looking to continue its solid performance.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Steelcase Inc. (SCS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research