Steelcase Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
Steelcase Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
Investors in Steelcase Inc. (NYSE:SCS) had a good week, as its shares rose 9.6% to close at US$13.70 following the release of its first-quarter results. The result was positive overall - although revenues of US$727m were in line with what the analysts predicted, Steelcase surprised by delivering a statutory profit of US$0.09 per share, modestly greater than expected. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
Steelcase Inc.(纽交所:SCS)的投资者在过去的一周已经获得了不少好处,随着该公司发布第一季度业绩报告,其股价上涨了9.6%至13.70美元。尽管7.27亿美元的收入符合分析师的预测,但Steelcase通过交付每股0.09美元的法定利润做到了超预期。随着成果的发布,分析师已经更新了其盈利模型。我们认为读者会发现该公司未来的增长前景是否强劲或业务照常,是值得关注的。我们认为读者会发现,对于明年的最新法定盈利预测,分析师是什么看法非常有趣。
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After the latest results, the four analysts covering Steelcase are now predicting revenues of US$3.25b in 2025. If met, this would reflect a modest 3.8% improvement in revenue compared to the last 12 months. Per-share earnings are expected to ascend 10% to US$0.84. Before this earnings report, the analysts had been forecasting revenues of US$3.27b and earnings per share (EPS) of US$0.82 in 2025. So the consensus seems to have become somewhat more optimistic on Steelcase's earnings potential following these results.
在最新的业绩公布之后,覆盖Steelcase的四位分析师现在预测其在2025年实现32.5亿美元的营业收入。如果达成,这将与过去12个月相比反映出3.8%的改善。预计每股收益将提高10%至0.84美元。在此份盈利预告公布之前,分析师此前曾预测Steelcase在2025年的营业收入为32.7亿美元,每股盈利为0.82美元。因此,这些结果似乎已经使分析师更加看好Steelcase的盈利潜力。
The analysts have been lifting their price targets on the back of the earnings upgrade, with the consensus price target rising 6.9% to US$16.67. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values Steelcase at US$18.00 per share, while the most bearish prices it at US$16.00. This is a very narrow spread of estimates, implying either that Steelcase is an easy company to value, or - more likely - the analysts are relying heavily on some key assumptions.
在盈利预估升级的推动下,分析师一致将目标价上调了6.9%,至16.67美元。此外,观察分析师估价范围也很有收获,可以评估离群意见与均值的差异。目前,最看好该公司的分析师将其估价为每股18.00美元,而最看淡的分析师看跌价值为每股16.00美元。这是一个非常狭窄的估价范围,表明Steelcase是一个容易评估的公司,或者更可能是分析师对一些关键假设给予了高度重视。
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. For example, we noticed that Steelcase's rate of growth is expected to accelerate meaningfully, with revenues forecast to exhibit 5.0% growth to the end of 2025 on an annualised basis. That is well above its historical decline of 2.1% a year over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue grow 6.6% per year. So although Steelcase's revenue growth is expected to improve, it is still expected to grow slower than the industry.
了解这些预测的更多背景,一种方法是将其与过去的表现以及同行业其他公司的表现进行比较。例如,我们注意到Steelcase的增长率预计将显著加速,预计其年化营收增长率将在2025年底前达到5.0%。这远高于其在过去五年中每年下降的2.1%。相比之下,我们的数据显示,在同类行业中有分析师覆盖的其他公司的营业收入增长预计每年将达到6.6%。因此,尽管Steelcase的营业收入增长预计将提高,但仍预计其增速将低于同行业。
The Bottom Line
最重要的事情是分析师增加了它对下一年每股亏损的估计。令人欣慰的是,营收预测未发生重大变化,业务仍有望比整个行业增长更快。共识价格目标稳定在28.50美元,最新估计不足以对价格目标产生影响。
The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Steelcase following these results. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time.
最重要的是,分析师们升级了每股盈利预估,这意味着在这些结果发布之后,他们对Steelcase的前途持有明显的乐观态度。好的方面是,收入预测没有太大变化,尽管预测表明Steelcase的表现将不及整个行业。我们注意到目标价有所上调,这意味着分析师认为该公司的内在价值有望随着时间的推移而改善。
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for Steelcase going out to 2027, and you can see them free on our platform here..
沿着这种思路继续探讨,我们认为该公司的长期前景比明年的盈利更重要。在Simply Wall St上,我们拥有Steelcase到2027年的全面分析师预估范围,您可以在这里免费查看他们的分析。
However, before you get too enthused, we've discovered 1 warning sign for Steelcase that you should be aware of.
但是,在您过于兴奋之前,请注意,我们发现了涉及Steelcase的1个警告信号,您应该注意。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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