Herman Miller, Inc. (MLHR) Releases Q1 Earnings Guidance
Herman Miller, Inc. (NASDAQ:MLHR) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.44-0.48 for the period, compared to the Thomson Reuters consensus estimate of $0.48, Analyst Ratings Net reports. The company issued revenue guidance of $480-500 million, compared to the consensus revenue estimate of $500.25 million.
On a related note, analysts at Longbow Research upgraded shares of Herman Miller from a neutral rating to a buy rating in a research note on Friday, June 6th. They now have a $37.00 price target on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Herman Miller has a consensus rating of Buy and a consensus target price of $35.25.
Shares of Herman Miller, Inc. (NASDAQ:MLHR) traded up 1.31% during mid-day trading on Wednesday, hitting $31.68. 461,408 shares of the company’s stock traded hands. Herman Miller, Inc. has a 1-year low of $24.77 and a 1-year high of $32.72. The stock’s 50-day moving average is $31.19 and its 200-day moving average is $29.79. The company’s market cap is $1.870 billion.
Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, June 25th. The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.04. The company had revenue of $487.50 million for the quarter, compared to the consensus estimate of $496.57 million. During the same quarter last year, the company posted $0.43 earnings per share. Herman Miller’s revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Herman Miller, Inc. will post $1.64 earnings per share for the current fiscal year.
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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