Steelcase Inc. (NYSE: SCS) has reported earnings for its third fiscal quarter (ending November 30) of $0.26 versus $0.10 for the same period a year ago — an increase of 160%. E.P.S. were $0.63 for the latest four quarters through November 30 versus $0.15 for the same period a year ago — an increase of 320%.
Recent Price Action
Steelcase Inc. (NYSE: SCS) stock closed at $12.70 on 12/19/23 after an increase of 1.5%. Moreover, trading volume in this advance was exceptionally high at 347% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 1.1% during the last week.
Current PriceTarget Research Rating
SCS’ future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Steelcase has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Steelcase has a slightly negative Appreciation Score of 34 but a very high Power Rating of 96, triggering the Positive Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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