Steelcase Inc. (NYSE:SCS) has a beta value of 1.59 and has seen 4,138,793 shares traded in the last trading session. The company, currently valued at $1.15 Billion, closed the last trade at $10.02 per share which meant it lost -$0.15 on the day or -1.47% during that session. The SCS stock price is -129.74% off its 52-week high price of $23.02 and 29.94% above the 52-week low of $7.02. If we look at the company’s 10-day average daily trading volume, we find that it stood at 795.62 Million shares traded. The 3-month trading volume is 771.66 Million shares.
The consensus among analysts is that Steelcase Inc. (SCS) is an Overweight stock at the moment, with a recommendation rating of 3. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 2 have rated it as a Hold, with 1 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.22.
Steelcase Inc. (NYSE:SCS) trade information
Despite being -1.47% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Sep 15 when the SCS stock price touched $10.41- or saw a rise of 3.75%. Year-to-date, Steelcase Inc. shares have moved -51.03%, while the 5-day performance has seen it change -0.99%. Over the past 30 days, the shares of Steelcase Inc. (NYSE:SCS) have changed -12.11%. Short interest in the company has seen 2.8 Million shares shorted with days to cover at 0.
Wall Street analysts have a consensus price target for the stock at $13, which means that the shares’ value could jump 29.74% from current levels. The projected low price target is $12 while the price target rests at a high of $14. In that case, then, we find that the current price level is +39.72% off the targeted high while a plunge would see the stock lose 19.76% from current levels.
Steelcase Inc. (SCS) estimates and forecasts
Figures show that Steelcase Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +5.03% over the past 6 months. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -56% and -52.2% for the next quarter. Revenue growth from the last financial year stood is estimated to be -26%.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +19.4% over the past 5 years. Earnings growth for 2020 is a modest +57.5% while over the next 5 years, the company’s earnings are expected to increase by 10%.
Steelcase Inc. is expected to release its next earnings report between September 22 and September 22 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.4 at a share yield of 3.93%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 3.39%.
Steelcase Inc. (NYSE:SCS)’s Major holders
Insiders own 5.02% of the company shares, while shares held by institutions stand at 99.08% with a share float percentage of 104.32%. Investors are also buoyed by the number of investors in a company, with Steelcase Inc. having a total of 323 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 8.83 Million shares worth more than $106.51 Million. As of June 29, 2020, Vanguard Group, Inc. (The) held 10.05% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 7.64 Million shares as of June 29, 2020. The firm’s total holdings are worth over $92.11 Million and represent 8.69% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Harbor Small Cap Value Fund and Vanguard Total Stock Market Index Fund. As of April 29, 2020, the former fund manager holds about 2.58% shares in the company for having 2265167 shares of worth $24.8 Million while later fund manager owns 2.19 Million shares of worth $26.38 Million as of June 29, 2020, which makes it owner of about 2.49% of company’s outstanding stock.