Equities analysts predict that Herman Miller, Inc. (NASDAQ:MLHR) will announce $577.40 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Herman Miller’s earnings. The highest sales estimate is $577.50 million and the lowest is $577.30 million. Herman Miller reported sales of $598.60 million during the same quarter last year, which would indicate a negative year over year growth rate of 3.5%. The company is expected to issue its next earnings results on Wednesday, September 20th.

According to Zacks, analysts expect that Herman Miller will report full-year sales of $577.40 million for the current financial year, with estimates ranging from $2.31 billion to $2.33 billion. For the next financial year, analysts expect that the firm will report sales of $2.42 billion per share, with estimates ranging from $2.41 billion to $2.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Herman Miller.

Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, July 5th. The business services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. Herman Miller had a return on equity of 22.94% and a net margin of 5.44%. The company had revenue of $577.20 million for the quarter, compared to analyst estimates of $583.53 million. During the same quarter in the prior year, the company earned $0.56 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year.

A number of research analysts recently issued reports on MLHR shares. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, July 11th. Sidoti started coverage on Herman Miller in a report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.00.

In other Herman Miller news, CEO Brian C. Walker sold 56,050 shares of Herman Miller stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $33.59, for a total transaction of $1,882,719.50. Following the sale, the chief executive officer now directly owns 164,929 shares of the company’s stock, valued at approximately $5,539,965.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Lock sold 19,247 shares of Herman Miller stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $33.47, for a total value of $644,197.09. Following the sale, the insider now directly owns 24,354 shares in the company, valued at $815,128.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,535 shares of company stock worth $3,678,089. 1.91% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Meadow Creek Investment Management LLC boosted its stake in Herman Miller by 5.1% in the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock valued at $109,000 after buying an additional 168 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Herman Miller by 67.9% in the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock valued at $112,000 after buying an additional 1,494 shares during the last quarter. First Bank & Trust boosted its stake in Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock valued at $121,000 after buying an additional 448 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock valued at $123,000 after buying an additional 181 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its stake in Herman Miller by 5.1% in the first quarter. Glen Harbor Capital Management LLC now owns 4,182 shares of the business services provider’s stock valued at $132,000 after buying an additional 204 shares during the last quarter. 86.12% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Herman Miller (MLHR) opened at 32.70 on Wednesday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 15.95 and a beta of 1.45. Herman Miller has a 12 month low of $26.99 and a 12 month high of $36.46. The company’s 50 day moving average price is $33.01 and its 200 day moving average price is $31.83.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Wednesday, August 30th. This is an increase from Herman Miller’s previous quarterly dividend of $0.17. Herman Miller’s payout ratio is currently 33.17%.

Herman Miller Company Profile

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Earnings History and Estimates for Herman Miller (NASDAQ:MLHR)

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