HNI Corp (HNI) Expected to Post Earnings of $0.86 Per Share

Wall Street analysts expect HNI Corp (NYSE:HNI) to post earnings of $0.86 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for HNI’s earnings. The highest EPS estimate is $0.86 and the lowest is $0.85. HNI posted earnings per share of $0.82 during the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The business is expected to issue its next quarterly earnings results on Monday, October 22nd.

On average, analysts expect that HNI will report full-year earnings of $2.43 per share for the current financial year, with EPS estimates ranging from $2.41 to $2.45. For the next fiscal year, analysts expect that the business will post earnings of $3.02 per share, with EPS estimates ranging from $2.93 to $3.10. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow HNI.

HNI (NYSE:HNI) last issued its quarterly earnings data on Monday, July 23rd. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.34 by $0.10. HNI had a return on equity of 15.89% and a net margin of 4.13%. The company had revenue of $543.60 million for the quarter, compared to analyst estimates of $525.00 million. During the same period last year, the company earned $0.42 earnings per share. HNI’s quarterly revenue was up 5.7% compared to the same quarter last year.

Several analysts have commented on the company. ValuEngine raised HNI from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. Zacks Investment Research lowered HNI from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Finally, TheStreet raised HNI from a “c+” rating to a “b-” rating in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. HNI presently has a consensus rating of “Hold”.

HNI traded down $0.26 during trading on Wednesday, hitting $43.92. The company’s stock had a trading volume of 3,739 shares, compared to its average volume of 148,108. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56. HNI has a twelve month low of $31.16 and a twelve month high of $45.40. The firm has a market cap of $1.93 billion, a P/E ratio of 22.09 and a beta of 1.41.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, August 16th. HNI’s dividend payout ratio is presently 59.90%.

In other news, Director Stanley A. Askren sold 15,000 shares of HNI stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $44.03, for a total value of $660,450.00. Following the sale, the director now directly owns 247,124 shares of the company’s stock, valued at $10,880,869.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Miguel M. Calado sold 1,000 shares of HNI stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $42.56, for a total value of $42,560.00. The disclosure for this sale can be found here. Insiders sold 65,068 shares of company stock worth $2,664,859 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Several large investors have recently modified their holdings of HNI. Schwab Charles Investment Management Inc. boosted its stake in shares of HNI by 8.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 377,821 shares of the business services provider’s stock worth $13,636,000 after acquiring an additional 30,534 shares during the last quarter. Stevens Capital Management LP acquired a new position in HNI during the first quarter worth $921,000. Cambridge Investment Research Advisors Inc. acquired a new position in HNI during the first quarter worth $756,000. Systematic Financial Management LP boosted its stake in HNI by 3.1% during the first quarter. Systematic Financial Management LP now owns 146,968 shares of the business services provider’s stock worth $5,304,000 after buying an additional 4,390 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in HNI by 1.1% during the first quarter. BlackRock Inc. now owns 4,494,356 shares of the business services provider’s stock worth $162,201,000 after buying an additional 49,092 shares during the last quarter. 71.88% of the stock is currently owned by hedge funds and other institutional investors.

About HNI

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, basyx by HON, Lamex, and HNI India brands.

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