NEW YORK (TheStreet) -- Steelcase (SCS) shares are up 8.5% to $16.97 on Wednesday after reporting second quarter earnings of $30.5 million, or 27 cents per diluted share, 4 cents better than analysts were expecting.
The office furniture manufacturer also reported revenue of $786.7 million, ahead of analysts $784.5 million projections.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
TheStreet Ratings team rates STEELCASE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate STEELCASE INC (SCS) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, reasonable valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: SCS Ratings Report