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.

WARNING: This article was originally published by American Banking News and is owned by of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/10/23/hni-corporation-hni-issues-earnings-results.html.

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.

Earnings History for HNI Corporation (NYSE:HNI)

Receive News & Ratings for HNI Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HNI Corporation and related companies with MarketBeat.com's FREE daily email newsletter.