Steelcase (SCS) closed at $16.82 in the latest trading session, marking a -0.06% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Prior to today's trading, shares of the office furniture maker had gained 3.89% over the past month. This has lagged the Business Services sector's gain of 10.64% and the S&P 500's gain of 8.17% in that time.
Wall Street will be looking for positivity from SCS as it approaches its nex t earnings report date. In tha t report , analysts expect SCS to post earnings of $0.30 per share. This would mark year-over-year growth of 25%. Our most recent consensus estimate is calling for quarterly revenue of $859.50 million, up 11.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.18 per share and revenue of $3.39 billion. These totals would mark changes of +29.67% and +10.92%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SCS. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SCS is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, SCS is holding a Forward P/E ratio of 14.26. For comparison, its industry has an average Forward P/E of 12.66, which means SCS is trading at a premium to the group.
The Business - Office Products industry is part of the Business Services sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.