Herman Miller Stock Rating Upgraded by Longbow Research (MLHR)
Herman Miller (NASDAQ:MLHR) was upgraded by equities research analysts at Longbow Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports.
Shares of Herman Miller (NASDAQ:MLHR) opened at 31.22 on Friday. Herman Miller has a one year low of $24.77 and a one year high of $32.64. The stock has a 50-day moving average of $30.84 and a 200-day moving average of $29.74. The company’s market cap is $1.842 billion.
Herman Miller (NASDAQ:MLHR) last announced its 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. On average, analysts predict that Herman Miller will post $1.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Saturday, May 31st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, May 28th.
A number of other firms have also recently commented on MLHR. 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. Separately, 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. Finally, analysts at TheStreet upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.67.
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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