Wall Street brokerages expect Herman Miller, Inc. (NASDAQ:MLHR) to announce sales of $639.90 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Herman Miller’s earnings. The highest sales estimate is $640.50 million and the lowest is $639.30 million. Herman Miller posted sales of $604.60 million during the same quarter last year, which suggests a positive year over year growth rate of 5.8%. The company is scheduled to issue its next quarterly earnings results on Wednesday, December 19th.
On average, analysts expect that Herman Miller will report full-year sales of $2.52 billion for the current financial year, with estimates ranging from $2.52 billion to $2.53 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.62 billion per share, with estimates ranging from $2.62 billion to $2.63 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, September 19th. The business services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.04. The company had revenue of $624.60 million during the quarter, compared to the consensus estimate of $620.73 million. Herman Miller had a net margin of 5.40% and a return on equity of 22.22%. Herman Miller’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS.
Shares of Herman Miller stock opened at $38.50 on Tuesday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 16.76 and a beta of 1.42. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.42. Herman Miller has a one year low of $29.95 and a one year high of $41.85.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Saturday, September 1st will be given a dividend of $0.198 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.79 dividend on an annualized basis and a yield of 2.06%. This is an increase from Herman Miller’s previous quarterly dividend of $0.18. Herman Miller’s dividend payout ratio is presently 34.35%.
In other news, CEO Brian C. Walker sold 30,362 shares of the stock in a transaction dated Friday, July 13th. The shares were sold at an average price of $38.77, for a total value of $1,177,134.74. Following the completion of the transaction, the chief executive officer now owns 34,406 shares in the company, valued at approximately $1,333,920.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian C. Walker sold 18,000 shares of the stock in a transaction dated Friday, July 6th. The shares were sold at an average price of $38.49, for a total transaction of $692,820.00. Following the completion of the transaction, the chief executive officer now owns 2,701 shares of the company’s stock, valued at approximately $103,961.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,807 shares of company stock valued at $10,258,904. 1.05% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in MLHR. Neuberger Berman Group LLC increased its holdings in shares of Herman Miller by 81.9% in the 1st quarter. Neuberger Berman Group LLC now owns 10,335 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 4,653 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Herman Miller by 2.8% in the 1st quarter. California Public Employees Retirement System now owns 152,289 shares of the business services provider’s stock valued at $4,866,000 after purchasing an additional 4,167 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Herman Miller in the 1st quarter valued at about $121,000. Well Done LLC increased its holdings in shares of Herman Miller by 102.4% in the 1st quarter. Well Done LLC now owns 64,712 shares of the business services provider’s stock valued at $2,068,000 after purchasing an additional 32,747 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of Herman Miller in the 1st quarter valued at about $5,248,000. Institutional investors and hedge funds own 85.38% of the company’s stock.
Herman Miller Company Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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