Herman Miller Inc. (MLHR) Updates Q2 Earnings Guidance
Herman Miller Inc. (NASDAQ:MLHR) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.38-0.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.45, Stock Ratings Network.com reports. The company issued revenue guidance of $460-475 million, compared to the consensus revenue estimate of $494.83 million.
Herman Miller Inc. (NASDAQ:MLHR) traded up 0.33% on Wednesday, hitting $27.03. 363,997 shares of the company’s stock traded hands. Herman Miller Inc. has a 52 week low of $18.01 and a 52 week high of $29.70. The stock’s 50-day moving average is $27.22 and its 200-day moving average is $26.81. The company has a market cap of $1.584 billion and a P/E ratio of 23.22.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.38 by $0.05. The company had revenue of $468.00 million for the quarter, compared to the consensus estimate of $465.10 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts expect that Herman Miller Inc. will post $1.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Saturday, August 31st will be given a dividend of $0.13 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, August 28th.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Herman Miller (NASDAQ:MLHR) from an outperform rating to a neutral rating in a research note to investors on Friday, August 2nd. They now have a $31.00 price target on the stock. On a related note, analysts at Ned Davis Research upgraded shares of Herman Miller (NASDAQ:MLHR) from a neutral rating to a buy rating in a research note to investors on Monday, July 8th.
Herman Miller, Inc researches, designs, manufactures, and distributes interior furnishings, for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world.
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