Sep 19 Earnings: Product Revamps Will Boost Steelcase Revenues
Updated
After a slowdown in sales in 2016 the company's management has put forth an effort to revamp products with changing industry trends.
The company, as of late 2016, has presented their plan to revamp existing products and launch new ones. Some in partnership with Microsoft.
Even earlier in the year, the company showed progress with sales decline greatly slowing and projecting FY 2018 sales to rise 1.67% to $3,083B.
The company expects FY 2019 sales to increase 4.58% further, on behalf of its efforts.
A lackluster EPS has put pressure on the stock price, which I believe is overdone.
Price target around $19 throughout the upcoming 12 months.
The company, as of late 2016, has presented their plan to revamp existing products and launch new ones. Some in partnership with Microsoft.
Even earlier in the year, the company showed progress with sales decline greatly slowing and projecting FY 2018 sales to rise 1.67% to $3,083B.
The company expects FY 2019 sales to increase 4.58% further, on behalf of its efforts.
A lackluster EPS has put pressure on the stock price, which I believe is overdone.
Price target around $19 throughout the upcoming 12 months.
Comment
The company reported EPS of $0.31 and Revenue of 775.6M, beating expectations. Share are inching up roughly 4% in After Hours trading.
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