Equities research analysts expect that HNI Corporation (NYSE:HNI) will announce sales of $588.00 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for HNI Corporation’s earnings, with the lowest sales estimate coming in at $583.60 million and the highest estimate coming in at $592.40 million. HNI Corporation reported sales of $584.63 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.6%. The business is expected to report its next quarterly earnings report on Wednesday, October 18th.

According to Zacks, analysts expect that HNI Corporation will report full year sales of $588.00 million for the current financial year, with estimates ranging from $2.18 billion to $2.19 billion. For the next financial year, analysts forecast that the business will report sales of $2.29 billion per share, with estimates ranging from $2.29 billion to $2.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow HNI Corporation.

HNI Corporation (NYSE:HNI) last released its quarterly earnings data on Monday, July 24th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.01. The business had revenue of $514.50 million during the quarter, compared to the consensus estimate of $516.10 million. HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. HNI Corporation’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS.

HNI has been the subject of a number of recent analyst reports. TheStreet lowered HNI Corporation from a “b-” rating to a “c+” rating in a research report on Tuesday, June 20th. Raymond James Financial, Inc. upgraded HNI Corporation from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Wednesday, August 23rd. Citigroup Inc. upgraded HNI Corporation to an “outperform” rating and set a $42.00 price target for the company in a report on Wednesday, August 23rd. BidaskClub lowered HNI Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, UBS AG upgraded HNI Corporation from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 23rd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $44.50.

In other news, Chairman Stanley A. Askren sold 11,264 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $46.01, for a total transaction of $518,256.64. Following the completion of the sale, the chairman now owns 204,996 shares in the company, valued at $9,431,865.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.16% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC increased its stake in shares of HNI Corporation by 33.4% in the fourth quarter. Teachers Advisors LLC now owns 113,950 shares of the business services provider’s stock valued at $6,372,000 after buying an additional 28,524 shares during the period. Bank of Montreal Can boosted its position in HNI Corporation by 27.2% in the first quarter. Bank of Montreal Can now owns 4,819 shares of the business services provider’s stock valued at $222,000 after buying an additional 1,030 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in HNI Corporation by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the business services provider’s stock valued at $512,000 after buying an additional 100 shares in the last quarter. Nationwide Fund Advisors boosted its position in HNI Corporation by 0.9% in the first quarter. Nationwide Fund Advisors now owns 122,155 shares of the business services provider’s stock valued at $5,630,000 after buying an additional 1,071 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in HNI Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,514 shares of the business services provider’s stock valued at $715,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 69.64% of the company’s stock.

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Shares of HNI Corporation (HNI) opened at 36.28 on Wednesday. HNI Corporation has a 1-year low of $34.60 and a 1-year high of $56.96. The firm has a 50-day moving average price of $37.25 and a 200 day moving average price of $42.59. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 26.06 and a beta of 1.41.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Wednesday, August 16th. HNI Corporation’s dividend payout ratio is currently 81.43%.

HNI Corporation 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.

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