$608.25 Million in Sales Expected for HNI Corp (HNI) This Quarter

Wall Street brokerages expect HNI Corp (NYSE:HNI) to report sales of $608.25 million for the current quarter, according to Zacks. Two analysts have provided estimates for HNI’s earnings, with the highest sales estimate coming in at $609.50 million and the lowest estimate coming in at $607.00 million. HNI reported sales of $584.28 million in the same quarter last year, which indicates a positive year over year growth rate of 4.1%. The company is expected to report its next earnings results on Thursday, February 14th.

According to Zacks, analysts expect that HNI will report full-year sales of $2.27 billion for the current fiscal year. For the next year, analysts expect that the firm will post sales of $2.37 billion, with estimates ranging from $2.36 billion to $2.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for HNI.

HNI (NYSE:HNI) last released its earnings results on Monday, October 22nd. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.04. The business had revenue of $611.10 million for the quarter, compared to analyst estimates of $618.27 million. HNI had a return on equity of 16.11% and a net margin of 4.23%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share.

HNI has been the topic of a number of recent research reports. Zacks Investment Research lowered HNI from a “hold” rating to a “sell” rating in a report on Friday, October 26th. TheStreet lowered HNI from a “b” rating to a “c+” rating in a report on Thursday, January 3rd.

In related news, Director Stanley A. Askren sold 54,591 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $37.90, for a total transaction of $2,068,998.90. Following the transaction, the director now owns 287,287 shares of the company’s stock, valued at $10,888,177.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley A. Askren sold 23,660 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $37.62, for a total value of $890,089.20. Following the transaction, the director now directly owns 256,356 shares in the company, valued at approximately $9,644,112.72. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Retirement Systems of Alabama grew its holdings in HNI by 0.5% during the fourth quarter. Retirement Systems of Alabama now owns 56,815 shares of the business services provider’s stock worth $2,013,000 after acquiring an additional 295 shares during the period. Legal & General Group Plc grew its holdings in HNI by 1.4% during the third quarter. Legal & General Group Plc now owns 60,272 shares of the business services provider’s stock worth $2,666,000 after acquiring an additional 809 shares during the period. Vanguard Group Inc grew its holdings in HNI by 1.7% during the third quarter. Vanguard Group Inc now owns 4,079,643 shares of the business services provider’s stock worth $180,483,000 after acquiring an additional 66,967 shares during the period. Federated Investors Inc. PA grew its holdings in HNI by 108.3% during the third quarter. Federated Investors Inc. PA now owns 16,828 shares of the business services provider’s stock worth $744,000 after acquiring an additional 8,748 shares during the period. Finally, Vanguard Group Inc. grew its holdings in HNI by 1.7% during the third quarter. Vanguard Group Inc. now owns 4,079,643 shares of the business services provider’s stock worth $180,483,000 after acquiring an additional 66,967 shares during the period. 71.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:HNI traded down $0.06 during trading on Friday, reaching $39.58. The company had a trading volume of 101,300 shares, compared to its average volume of 210,913. The firm has a market cap of $1.73 billion, a P/E ratio of 20.13 and a beta of 1.37. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. HNI has a fifty-two week low of $32.55 and a fifty-two week high of $45.40.

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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