|Bid||11.77 x 800|
|Ask||11.79 x 2200|
|Day's Range||11.64 - 12.01|
|52 Week Range||7.02 - 23.02|
|Beta (5Y Monthly)||1.59|
|PE Ratio (TTM)||7.11|
|Earnings Date||Jun 22, 2020 - Jun 29, 2020|
|Forward Dividend & Yield||0.28 (2.41%)|
|Ex-Dividend Date||Apr 02, 2020|
|1y Target Est||13.00|
GRAND RAPIDS, Mich., June 01, 2020 -- Steelcase Inc. (NYSE: SCS) announces that David Sylvester, Senior Vice President, Chief Financial Officer, and Michael O’Meara, Director,.
Steelcase Inc said on Tuesday that it recalled most of its manufacturing employees globally who were furloughed due to restrictions imposed to curb the spread of the COVID-19 pandemic. "In the U.S., the company has eased the pay and hour reductions for most of its salaried employees from 50% to 20%," Steelcase said. The company also eased reductions in base pay for its chief executive officer from a $1 annual salary to a 50% base pay reduction and for its other executives to 20% cut from 60%.
Steelcase Inc. said Tuesday it was recalling most of its manufacturing employees that were furloughed, as government restrictions related to the COVID-19 pandemic have begun to ease. The maker of furniture settings and interior architectural products said all of its manufacturing and distribution locations are currently open, and many showrooms are beginning to reopen. Steelcase said it was easing the reductions in pay and work hours for employees that were implemented in March and April. The company said revenue for the March-April period fell 39% from a year ago, with March revenue down 21% and April revenue down 60%. The FactSet consensus for fiscal first-quarter revenue, which runs through May, of $546 million implies a 34% decline. The stock, which was still inactive in premarket trading, has tumbled 43.7% year to date, while the S&P 500 has lost 8.5%.
Steelcase Inc. (SCS) announced today it has called back most of its manufacturing workforce from temporary layoffs as government restrictions related to the COVID-19 pandemic are beginning to ease. All of the company’s manufacturing and distribution locations around the world are open, with some locations in the process of scaling up capacity levels and a few locations continuing to be subject to government restrictions that prevent them from operating at normal capacity. As of May 1, 2020, the company’s backlog of customer orders was approximately $700 million, or approximately 23% higher than the prior year, as government mandates significantly limited the company’s ability to manufacture products and fulfill orders throughout much of the world over the last two months.
It is hard to get excited after looking at Steelcase's (NYSE:SCS) recent performance, when its stock has declined 42...
Charlie Straface, president of Norwegian aluminum maker Norsk Hydro's North American extrusion operations, convenes a coronavirus task force every other day to draw up cost-cutting measures to offset declining revenues and protect the unit's cash balance during the economic slump related to the outbreak. With little clarity on when the U.S. economy will reopen, companies of all sizes have been bracing for at least months of limited revenues. With about $500 billion of corporate debt due to mature this year and in 2021, many businesses must conserve cash and bolster liquidity.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Steelcase today announced it has already started and continues to manufacture and deploy critical equipment supplies for healthcare providers on the frontlines of the battle against the COVID-19 global pandemic. Among the supplies Steelcase is producing are masks for use in clinical environments; facial shields for clinicians in direct contact with patients; and social screens, desktop and floor mounted, for screening and communicating with visitors at safe social distances. Steelcase is using its plants, model shop and innovation center to rapidly develop solutions that will be built to scale and distributed to medical facilities.
The investors in Steelcase Inc.'s (NYSE:SCS) will be rubbing their hands together with glee today, after the share...
NEW YORK, NY / ACCESSWIRE / March 25, 2020 / Steelcase, Inc. (NYSE:SCS) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on March 25, 2020 at 8:30 AM Eastern ...
Fourth quarter results reflect strong performance Revenue grew 4% to $946.2 millionEPS improved 189% to $0.55; adjusted EPS improved 34% to $0.39EMEA posts $8.3 million of.
On Tuesday, March 24, Steelcase (NYSE: SCS) will release its latest earnings report. Here is Benzinga's outlook for the company.Earnings and Revenue Wall Street expects EPS of 32 cents and sales around $914.80 million.Steelcase reported a profit of 28 cents when it published results during the same quarter last year. Sales in that period totaled $912.40 million. The Wall Street estimate would represent a 10.34% increase in the company's earnings. Sales would be up 0.26% from the same quarter last year. The company's reported EPS has stacked up against analyst estimates in the past like this:View more earnings on SCS Quarter Q3 2020 Q2 2020 Q1 2020 Q4 2019 EPS Estimate 0.350 0.43 0.180 0.26 EPS Actual 0.460 0.500 0.150 0.29 Stock Performance Over the last 52-week period, shares are down 36.47%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release.Over the past 90 days, analysts have generally adjusted their estimates higher for EPS and revenues. The average rating by analysts on Steelcase stock is a Neutral. The strength of this rating has maintained conviction over the past 90 days.See more from Benzinga * Nike Q3 Earnings Preview * Recap: Neogen Q3 Earnings * Tsakos Energy Navigation: Q4 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Unfortunately for some shareholders, the Steelcase (NYSE:SCS) share price has dived 53% in the last thirty days. That...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Steelcase Inc. New York, March 09, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Steelcase Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
GRAND RAPIDS, Mich., March 04, 2020 -- Steelcase Inc. (NYSE: SCS) will webcast a discussion of its fourth quarter and fiscal year 2020 financial results on Wednesday, March 25,.
Steelcase Inc. (SCS) today announced it has sold all of the issued and outstanding capital stock of PolyVision Corporation to an affiliate of Industrial Opportunity Partners. PolyVision is a U.S. and Belgium-based manufacturer of ceramic coated steel used in whiteboards, chalkboards, and architectural cladding. Industrial Opportunity Partners is a U.S.-based private equity firm focused on investing in middle market manufacturing and distribution businesses.
Today we will run through one way of estimating the intrinsic value of Steelcase Inc. (NYSE:SCS) by taking the...
Fortune has recognized Steelcase (SCS) as one of its 2020 World’s Most Admired Companies in the Home Equipment and Furnishings industry sector. In the same week, Steelcase earned a perfect score of 100 points on the Corporate Equality Index, issued by the Human Rights Campaign Foundation. Businesses featured on the Most Admired List are rated by executives, directors and analysts in their respective industries based on nine criteria – ranging from investment value and quality of management and products to social responsibility and ability to attract talent.