Steelcase Inc reports results for the quarter ended August 31 - Earnings Summary

• Steelcase Inc SCS reported quarterly adjusted earnings of 45 cents​​ per share for the quarter ended August 31, higher than the same quarter last year, when the company reported EPS of 39 cents. The mean expectation of four analysts for the quarter was for earnings of 37 cents per share. Wall Street expected results to range from 36 cents to 37 cents per share.

• Revenue rose 4.8% to $897.10 million from a year ago; analysts expected $873.70 million.

• Steelcase Inc's reported EPS for the quarter was 29 cents​.

• The company reported quarterly net income of $35 million.

• Steelcase Inc shares had risen by 61.7% this quarter and gained 42.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 11% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the business support supplies peer group is also "buy"

• Wall Street's median 12-month price target for Steelcase Inc is $16.00, about 4.2% below its last closing price of $16.68

This summary was machine generated from LSEG data September 24 at 09:00 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)