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Surging Earnings Estimates Signal Good News for Steelcase (SCS)

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Steelcase Inc. (SCS - Free Report) is a producer and seller of integrated furniture, user-centered technologies and interior architectural products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SCS’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Steelcase could be a solid choice for investors.

Current Quarter Estimates for SCS

In the past 30 days, two estimates have gone higher for Steelcase while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 27 cents a share 30 days ago, to 30 cents today, a move of 11.1%.

Current Year Estimates for SCS

Meanwhile, Steelcase’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 95 cents per share 30 days ago to $1.13 per share today, an increase of 18.9%.

Steelcase Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 18.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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