In the latest trading session, Steelcase (SCS - Free Report) closed at $18.19, marking a +1.45% move from the previous day. This change outpaced the S&P 500's 0.75% gain on the day. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 1.32%.
Heading into today, shares of the office furniture maker had gained 1.19% over the past month, lagging the Business Services sector's gain of 4.96% and the S&P 500's gain of 3.42% in that time.
Investors will be hoping for strength from SCS as it approaches its next earnings release. The company is expected to report EPS of $0.35, down 2.78% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $935.70 million, up 3.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.36 per share and revenue of $3.71 billion. These totals would mark changes of +13.33% and +7.77%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SCS. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.37% higher. SCS is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, SCS is holding a Forward P/E ratio of 13.17. This represents a no noticeable deviation compared to its industry's average Forward P/E of 13.17.
The Business - Office Products industry is part of the Business Services sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.