JUMP REPORT
STEELCASE (SCS)
EARNINGS RELEASE - JUNE 30 (AMC)
EARNINGS EXPECTATIONS:
THIS QTR: EPS: -.14/share REV: 530.3/M
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LAST QTR: EPS: .83/share ACTUAL: .83/share (BEAT)
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NEXT QTR: EPS: .20/share REV: 774.67/M
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FULL YR: EPS: .61/Share REV: 2,920/M
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*These are the base metrics we will be watching against the actual release numbers
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BEAT/MISS RECORD: 58% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) 20.13, 20.64, 10.27
EXPECTED JUMP MOVE: 10-15%
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*** With market volatility at extremes there is greater risk in trading these events which may not react as they would under normal market conditions. Please take extra caution before trading.
Links To Latest News and Headlines
Steelcase Inc. ( NYSE:SCS ), is not the largest company out there, but it saw a significant share price rise of over…
Wall Street took a small step back last week. The “three stocks to avoid” in my column that I thought were going to lose to the market in the past week — BlackBerry, Steelcase, and Blink Charging — plunged 19%, rose 8%, and slipped 13%, respectively, averaging out to an 8% decline. It’s been a rough year for Chinese growth stocks.
Does the December share price for Steelcase Inc. ( NYSE:SCS ) reflect what it’s really worth? Today, we will estimate…
By Peter Nurse
Revenue and earnings growth driven by strong beginning backlog and year-over-year pricing benefitsGross margin improved 120 basis points compared to prior year driven by a 280 basis point improvement in the AmericasActions to reduce cost structure expected to produce approximately $30 million of annualized savingsFourth quarter outlook projects earnings growth compared to prior year driven by pricing benefits and includes savings from recent actions GRAND RAPIDS, Mich., Dec. 19, 2022 (GLOBE NEWS
StockJumpers analysis and trade plans are uploaded generally 1 HOUR BEFORE MARKETS CLOSE (3PM EST) for most events.
ANALYSIS:
With the virus and shutdowns across the country revenue expectations are lowered but they still may miss. The trajectory models have a negative market reaction, which is likely based on slower than expected recovery numbers going forward.
We are biased short.
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OUR TRADE PLAN:
ENTRY: SELL
STOP LOSS: N/A
INITIAL PROFIT TARGET: 10%
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TRADE ASSIST: N/A
POST RELEASE ACTION:
There is a significant amount of data behind the scenes involved in the analysis and trade plan tab above, that does not get put into the report. Too much information for traders often confuses things – so this is stripped down to only what is needed to make the best possible decision(s) on trading the trajectory.
Members who are too busy to manual trade can use Trade Assist. For more information visit here
Avg Daily Volume: 915,856 Market Cap: 1.32B
Sector: Consumer Goods Short Interest: 4.14
Ticker delayed 20 minutes
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by Team Stockjumpers