Herman Miller Hits New 52-Week High at $32.72 (MLHR)
Herman Miller (NASDAQ:MLHR) shares hit a new 52-week high during mid-day trading on Friday , American Banking and Market News reports. The stock traded as high as $32.72 and last traded at $32.52, with a volume of 184,217 shares. The stock had previously closed at $31.22.
Several analysts have recently commented on the stock. Analysts at Longbow Research upgraded shares of Herman Miller from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $37.00 price target on the stock. Separately, analysts at BB&T Corp. raised their price target on shares of Herman Miller from $33.00 to $38.00 in a research note on Friday, March 21st. Finally, analysts at Raymond James raised their price target on shares of Herman Miller from $31.00 to $35.00 in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $35.25.
The stock’s 50-day moving average is $30.84 and its 200-day moving average is $29.74. The company’s market cap is $1.892 billion.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings results on Wednesday, March 19th. The company reported $0.34 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.34. The company had revenue of $455.90 million for the quarter, compared to the consensus estimate of $457.60 million. During the same quarter last year, the company posted $0.32 earnings per share. Herman Miller’s revenue was up 7.7% compared to the same quarter last year. Analysts expect that Herman Miller will post $1.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Saturday, May 31st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, May 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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