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Steelcase Inc. (NYSE:SCS) Down Almost -22.35% In 1 Month, Long Term Looking Good As Well

In recent trading session, Steelcase Inc. (NYSE:SCS) saw 0.98 million shares changing hands at last check today with its beta currently measuring 1.13. Company’s recent per share price level of $8.46 trading at -$0.78 or -8.44% at last check today assigns it a market valuation of $1.08B. That most recent trading price of SCS’s stock is at a discount of -58.51% from its 52-week high price of $13.41 and is indicating a discount of -7.8% from its 52-week low price of $9.12. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.95 million shares which gives us an average trading volume of 576.48K if we extend that period to 3-months.

For Steelcase Inc. (SCS), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 1.50. Splitting up the data highlights that, out of 2 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.23 in the current quarter.

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Steelcase Inc. (NYSE:SCS) trade information

Upright in the red during last session for losing -8.44%, in the last five days SCS remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $8.46 price level, adding 12.06% to its value on the day. Steelcase Inc.’s shares saw a change of -21.16% in year-to-date performance and have moved -14.21% in past 5-day. Steelcase Inc. (NYSE:SCS) showed a performance of -22.35% in past 30-days. Number of shares sold short was 4.55 million shares which calculate 9.99 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $14.00 to the stock, which implies a rise of 39.57% to its recent value today. Analysts have been projecting $12.00 as a low price target for the stock while placing it at a high target of $16.00. It follows that stock’s current price would drop -89.13% in reaching the projected high whereas dropping to the targeted low would mean a loss of -41.84% for stock’s current value.

Steelcase Inc. (SCS) estimates and forecasts

The company is estimating its revenue growth to increase by 187.50% in the current quarter and calculating 1,450.00% increase in the next quarter. This year revenue growth is estimated to rise 19.80% from the last financial year’s standing.

4 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $856.72 million for the same. And 4 analysts are in estimates of company making revenue of $840.32 million in the next quarter that will end on Feb 2023.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -49.40% during past 5 years. In 2022, company’s earnings growth rate is likely to be around -84.60% while estimates for its earnings growth in next 5 years are of 10.00%.

SCS Dividends

Steelcase Inc. is more likely to be releasing its next quarterly report between December 14 and December 19 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Steelcase Inc. (NYSE:SCS)’s Major holders

Insiders are in possession of 4.45% of company’s total shares while institution are holding 96.79 percent of that, with stock having share float percentage of 101.30%. Investors also watch the number of corporate investors in a company very closely, which is 96.79% institutions for Steelcase Inc. that are currently holding shares of the company. Pzena Investment Management Llc is the top institutional holder at SCS for having 9.31 million shares of worth $78.0 million. And as of Jun 29, 2022, it was holding 10.09% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 8.01 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 8.68% of outstanding shares, having a total worth of $67.14 million.

On the other hand, Vanguard Total Stock Market Index Fund and Harbor Small Cap Value Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 2.17 million shares of worth $18.2 million or 2.35% of the total outstanding shares. The later fund manager was in possession of 2.13 million shares on Apr 29, 2022, making its stake of worth around $17.85 million in the company or a holder of 2.31% of company’s stock.

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