HNI Corp (NYSE:HNI) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.41-0.46 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.70.

Shares of HNI Corp (NYSE:HNI) traded up 2.65% during midday trading on Thursday, hitting $44.91. 140,136 shares of the stock traded hands. The stock has a 50-day moving average of $44.66 and a 200-day moving average of $48.36. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 25.97 and a beta of 1.44. HNI Corp has a 52-week low of $37.24 and a 52-week high of $56.96.

HNI Corp (NYSE:HNI) last issued its quarterly earnings results on Wednesday, April 19th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. HNI Corp had a net margin of 3.88% and a return on equity of 23.75%. The company had revenue of $477.70 million during the quarter, compared to the consensus estimate of $470.07 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities analysts predict that HNI Corp will post $2.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 19th were paid a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $1.14 dividend on an annualized basis and a yield of 2.54%. This is an increase from HNI Corp’s previous quarterly dividend of $0.28. HNI Corp’s payout ratio is currently 58.51%.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of HNI Corp from a hold rating to a sell rating in a research note on Monday, April 24th. Sidoti upgraded shares of HNI Corp from a neutral rating to a buy rating in a research note on Tuesday, February 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. HNI Corp presently has an average rating of Hold and a consensus price target of $47.00.

In related news, Chairman Stanley A. Askren sold 11,264 shares of HNI Corp stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $46.01, for a total value of $518,256.64. Following the completion of the transaction, the chairman now owns 204,996 shares in the company, valued at $9,431,865.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Stanley A. Askren sold 2,764 shares of HNI Corp stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $46.51, for a total transaction of $128,553.64. Following the completion of the transaction, the chairman now owns 207,156 shares of the company’s stock, valued at approximately $9,634,825.56. The disclosure for this sale can be found here. Insiders sold 65,537 shares of company stock valued at $3,000,178 in the last quarter. 5.00% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: “HNI Corp (HNI) Issues Q2 Earnings Guidance” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/06/08/hni-corp-hni-issues-q2-earnings-guidance.html.

HNI Corp Company Profile

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

Receive News & Ratings for HNI Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HNI Corp and related companies with MarketBeat.com's FREE daily email newsletter.