$0.81 EPS Expected for HNI Corporation (HNI) This Quarter
Equities analysts expect that HNI Corporation (NYSE:HNI) will post earnings per share (EPS) of $0.81 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for HNI Corporation’s earnings, with the lowest EPS estimate coming in at $0.80 and the highest estimate coming in at $0.81. HNI Corporation posted earnings per share of $0.80 in the same quarter last year, which suggests a positive year over year growth rate of 1.3%. The company is scheduled to issue its next earnings results on Wednesday, October 18th.
On average, analysts expect that HNI Corporation will report full year earnings of $2.45 per share for the current year, with EPS estimates ranging from $2.44 to $2.45. For the next year, analysts expect that the firm will report earnings of $2.96 per share, with EPS estimates ranging from $2.90 to $3.02. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow HNI Corporation.
HNI Corporation (NYSE:HNI) last issued its quarterly earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). The business had revenue of $514.50 million for 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%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised HNI Corporation from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Raymond James Financial, Inc. raised HNI Corporation from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research note on Wednesday, August 23rd. Citigroup Inc. raised HNI Corporation to an “outperform” rating and set a $42.00 price objective for the company in a research note on Wednesday, August 23rd. UBS AG raised HNI Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 23rd. Finally, BidaskClub lowered HNI Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. HNI Corporation currently has a consensus rating of “Hold” and a consensus price target of $44.50.
Shares of HNI Corporation (NYSE HNI) opened at 37.93 on Friday. HNI Corporation has a 12 month low of $34.60 and a 12 month high of $56.94. The company has a market cap of $1.67 billion, a P/E ratio of 27.25 and a beta of 1.41. The stock’s 50 day moving average price is $36.39 and its 200-day moving average price is $41.63.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, August 16th. HNI Corporation’s payout ratio is presently 81.43%.
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In related news, Chairman Stanley A. Askren sold 12,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $36.44, for a total transaction of $437,280.00. Following the completion of the transaction, the chairman now directly owns 216,996 shares of the company’s stock, valued at $7,907,334.24. The sale was disclosed in a filing with the SEC, which is available through this link. 5.16% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in HNI. KCG Holdings Inc. bought a new position in HNI Corporation during the first quarter valued at approximately $205,000. Laurion Capital Management LP bought a new position in HNI Corporation during the first quarter valued at approximately $221,000. Bank of Montreal Can boosted its stake in HNI Corporation by 27.2% during 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 during the last quarter. Tudor Investment Corp ET AL bought a new position in HNI Corporation during the first quarter valued at approximately $284,000. Finally, SG Americas Securities LLC boosted its stake in HNI Corporation by 64.9% during the first quarter. SG Americas Securities LLC now owns 6,846 shares of the business services provider’s stock valued at $316,000 after buying an additional 2,695 shares during the last quarter. 69.64% of the stock is owned by institutional investors.
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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