Earnings Reports Preview: Steelcase and Sangoma Technologies

Anticipation builds as Steelcase Inc. and Sangoma Technologies Corporation prepare to announce their quarterly earnings. The report indicates a positive earnings outlook for Steelcase while Sangoma faces challenges, which may influence stock prices.

Date: 20-09-2024

AI Rating: 6

The upcoming earnings report reveals significant information regarding two companies: Steelcase Inc. and Sangoma Technologies Corporation.

Steelcase Inc. (SCS) is expected to report a consensus earnings per share (EPS) of $0.37 for the quarter ending August 31, 2024. This represents a substantial 19.35% increase compared to the same quarter last year, indicating strong earnings growth that could positively influence its stock price. Moreover, Steelcase has consistently beaten expectations over the past year, including a remarkable 60% beat in the 2nd quarter. The company's Price to Earnings (P/E) ratio of 14.01 is above the industry average of 12.50, suggesting that investors can expect robust earnings growth relative to competitors, further reinforcing positive sentiment towards the stock.

In contrast, Sangoma Technologies Corporation (SANG) is expected to report an EPS of $-0.04, with no change from the same quarter last year. The company's recent performance has been disappointing, having missed consensus expectations by -11.11% in the previous quarter. Its Price to Earnings (P/E) ratio of -26.13 against an industry average of 403.00 raises concerns about its profitability, suggesting a lack of positive momentum in the market. This information may lead to negative sentiment, impacting Sangoma's stock price negatively.

Stocks: SCS SANG