For its fourth fiscal quarter (ending February 28), Steelcase Inc. (NYSE: SCS) has reported E.P.S. of $0.18 compared to $0.13 a year ago. E.P.S. were $0.68 for the latest four quarters through February 28 versus $0.30 for the same period a year ago.
Recent Price Action
On 3/20/24, Steelcase Inc. (NYSE: SCS) stock increased 1.4%, closing at $13.05. Moreover, unusually high trading volume at 152% of normal accompanied the advance. The stock has been exceptionally strong relative to the market over the last nine months and has risen 3.2% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, SCS 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 37 but a very high Power Rating of 99, producing 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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