Revenue Update on Steelcase(NYSE:SCS)

Steelcase(NYSE:SCS) announced the earnings results for Fiscal Year 2017 and Q4. The results came in during After-Market on Mar 21, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $769.100M. Analysts estimated a revenue of $750.830M. The revenues were 2.43% above the estimates. Earnings per share were $0.28. The reported EPS was above estimates by 21.74%. Analysts had estimated an EPS of $0.23.

Steelcase (SCS) shares turned negative on Fridays trading session with the shares closing down -0.15 points or -0.88% at a volume of 6,41,968. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.275. The peak price level was also seen at $17.275 while the days lowest was $16.85. Finally the shares closed at $16.95. The 52-week high of the shares is $18.1444 while the 52-week low is $12.67. According to the latest information available, the market cap of the company is $1,989 M.

Several Insider Transactions has been reported to the SEC. On Jan 5, 2017, P Craig Jr Welch (director) sold 18,000 shares at $17.95 per share price.Also, On Dec 28, 2016, Allan W Jr Smith (VP, Global Marketing) sold 5,632 shares at $17.55 per share price.On Dec 28, 2016, Sara E Armbruster (VP, Strategy, Research & NBI) sold 10,000 shares at $17.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Steelcase Inc. (Steelcase) provides an integrated portfolio of furniture settings user-centered technologies and interior architectural products. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products such as storage tables and ergonomic worktools. Its seating products include task chairs which are ergonomic seating that can be used in collaborative or casual settings and specialty seating for specific vertical markets such as healthcare and education. The Company’s technology solutions support group collaboration by integrating furniture and technology. Its interior architectural products include full and partial height walls and doors. The Company’s family of brands include Steelcase Coalesse Details Designtex PolyVision and Turnstone. The Company’s operational segments include Americas Europe the Middle East and Africa (EMEA) Other Category and Corporate.

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