HNI Corporation (HNI) Issues Earnings Results
HNI Corporation (NYSE:HNI) released its earnings results on Monday. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02, Bloomberg Earnings reports. The firm had revenue of $599.50 million during the quarter, compared to the consensus estimate of $585.07 million. HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share.
HNI Corporation (HNI) traded down 1.33% on Monday, hitting $42.29. The company’s stock had a trading volume of 277,043 shares. HNI Corporation has a 1-year low of $34.60 and a 1-year high of $56.94. The company has a market capitalization of $1.86 billion, a P/E ratio of 30.38 and a beta of 1.46. The company has a 50 day moving average price of $39.92 and a 200-day moving average price of $40.75.
A number of equities research analysts have weighed in on HNI shares. Raymond James Financial, Inc. upgraded HNI Corporation from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Wednesday, August 23rd. Citigroup Inc. upgraded HNI Corporation to an “outperform” rating and set a $42.00 target price for the company in a research report on Wednesday, August 23rd. BidaskClub downgraded HNI Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. UBS AG upgraded HNI Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded HNI Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $44.50.
In other news, Chairman Stanley A. Askren sold 12,000 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $42.42, for a total transaction of $509,040.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 36,000 shares of company stock worth $1,399,680 over the last three months. 5.16% of the stock is owned by insiders.
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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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