Steelcase (SCS - Free Report) closed the most recent trading day at $16.50, moving +1.16% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.86%. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq gained 1.37%.
Coming into today, shares of the office furniture maker had gained 8.66% in the past month. In that same time, the Business Services sector gained 8.89%, while the S&P 500 gained 8.11%.
Investors will be hoping for strength from SCS as it approaches its next earnings release, which is expected to be March 19, 2019. In that 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 might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SCS currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, SCS is currently trading at a Forward P/E ratio of 13.82. This represents a premium compared to its industry's average Forward P/E of 12.21.
The Business - Office Products industry is part of the Business Services sector. This group has a Zacks Industry Rank of 26, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.