Wall Street brokerages expect Herman Miller, Inc. (NASDAQ:MLHR) to report sales of $606.90 million for the current quarter, Zacks reports. Two analysts have provided estimates for Herman Miller’s earnings, with estimates ranging from $604.80 million to $609.00 million. Herman Miller posted sales of $577.50 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, December 20th.

On average, analysts expect that Herman Miller will report full-year sales of $606.90 million for the current year. For the next financial year, analysts expect that the company will post sales of $2.45 billion per share. Zacks’ sales averages are an average based on a survey of research firms that cover Herman Miller.

Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The business had revenue of $580.30 million for the quarter, compared to analyst estimates of $578.27 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year.

MLHR has been the topic of a number of analyst reports. Sidoti initiated coverage on Herman Miller in a research report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 price target on the stock. 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 research report on Tuesday, July 11th. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $38.00.

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In other Herman Miller news, SVP Stephen C. Gane sold 10,686 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $36.01, for a total value of $384,802.86. Following the sale, the senior vice president now owns 21,985 shares in the company, valued at approximately $791,679.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael F. Ramirez sold 4,091 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $33.98, for a total value of $139,012.18. The disclosure for this sale can be found here. Insiders sold a total of 140,204 shares of company stock worth $4,766,225 in the last quarter. Corporate insiders own 1.91% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio grew its position in shares of Herman Miller by 6.2% in the 2nd quarter. Strs Ohio now owns 13,700 shares of the business services provider’s stock valued at $416,000 after buying an additional 800 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Herman Miller by 20.8% in the 2nd quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock valued at $35,895,000 after purchasing an additional 202,970 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Herman Miller in the 2nd quarter valued at about $1,231,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Herman Miller by 10.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 346,148 shares of the business services provider’s stock valued at $10,921,000 after purchasing an additional 33,386 shares during the period. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Herman Miller by 43.3% in the 1st quarter. Tudor Investment Corp ET AL now owns 25,593 shares of the business services provider’s stock valued at $807,000 after purchasing an additional 7,733 shares during the period. Hedge funds and other institutional investors own 83.96% of the company’s stock.

Herman Miller (NASDAQ MLHR) traded up 0.212% during trading on Wednesday, reaching $35.525. The company’s stock had a trading volume of 53,622 shares. Herman Miller has a 52-week low of $26.99 and a 52-week high of $37.00. The firm has a 50 day moving average price of $34.43 and a 200-day moving average price of $32.86. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 17.329 and a beta of 1.46.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Wednesday, August 30th. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. Herman Miller’s payout ratio is 36.00%.

About Herman Miller

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

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