Herman Miller (MLHR) Posts Quarterly Results
Herman Miller (NASDAQ:MLHR) issued its quarterly earnings data on Wednesday. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05, American Banking & Market News reports. The company had revenue of $468.00 million for the quarter, compared to the consensus estimate of $465.10 million. During the same quarter last year, the company posted $0.38 earnings per share. Herman Miller’s revenue was up 4.1% compared to the same quarter last year. Herman Miller updated its Q2 guidance to $0.38-0.42 EPS.
A number of research firms have recently commented on MLHR. 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.
Shares of Herman Miller (NASDAQ:MLHR) traded up 0.33% on Wednesday, hitting $27.03. The stock had a trading volume of 363,997 shares. Herman Miller has a 52 week low of $18.01 and a 52 week high of $29.70. The stock has a 50-day moving average of $27.22 and a 200-day moving average of $26.81. The company has a market cap of $1.584 billion and a price-to-earnings ratio of 23.22.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Investors 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.
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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