SCS Stock Summary and Trading Ideas (Steelcase | NYSE:SCS)

Steelcase Inc is a furniture company based in the United States. Its brands such as Steelcase, AMQ, Coalesse, Designtex, and others offer a portfolio of furniture and architectural products and services designed to help customers create workplaces. It markets its products and services to businesses and organizations predominantly through a network of dealers and also sells to consumers in markets around the world through web-based and retail distribution channels. The company's reportable segments include the Americas which generates key revenue, and International.

Steelcase trades on the NYSE stock market under the symbol SCS.

As of May 2, 2024, SCS stock price climbed to $12.25 with 452,145 million shares trading.

SCS has a beta of 0.43, meaning it tends to be less sensitive to market movements. SCS has a correlation of 0.02 to the broad based SPY ETF.

SCS has a market cap of $1.41 billion. This is considered a Small Cap stock.

Last quarter Steelcase reported $775 million in Revenue and $.23 earnings per share. This fell short of revenue expectation by $-5 million and exceeded earnings estimates by $.02.

In the last 3 years, SCS stock traded as high as $15.84 and as low as $6.20.

The top ETF exchange traded funds that SCS belongs to (by Net Assets): VTI, VB, IWM, AVUV, VBR.

SCS has outperformed the market in the last year with a price return of +57.7% while the SPY ETF gained +23.2%. However, in the short term, SCS had mixed performance relative to the market. It has underperformed in the last 3 months, returning -4.3% vs +3.6% return in SPY. But in the last 2 weeks, SCS shares have fared better than the market returning +3.6% compared to SPY +0.9%.

SCS support price is $11.85 and resistance is $12.21 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SCS stock will trade within this expected range on the day.