Wall Street analysts expect HNI Corporation (NYSE:HNI) to announce sales of $604.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for HNI Corporation’s earnings, with the lowest sales estimate coming in at $599.30 million and the highest estimate coming in at $609.10 million. HNI Corporation reported sales of $581.29 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The company is expected to report its next quarterly earnings results on Wednesday, February 14th.

On average, analysts expect that HNI Corporation will report full-year sales of $604.20 million for the current financial year, with estimates ranging from $2.18 billion to $2.19 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.29 billion per share, with estimates ranging from $2.29 billion to $2.30 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow HNI Corporation.

HNI Corporation (NYSE:HNI) last announced its quarterly earnings results on Monday, October 23rd. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. HNI Corporation had a net margin of 3.08% and a return on equity of 21.06%. The business had revenue of $599.50 million during the quarter, compared to analysts’ expectations of $585.07 million. During the same period last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis.

A number of analysts recently issued reports on the stock. Citigroup Inc. raised shares of HNI Corporation to an “outperform” rating and set a $42.00 target price for the company in a research report on Wednesday, August 23rd. UBS AG raised shares of HNI Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 23rd. Raymond James Financial, Inc. raised shares of 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. Zacks Investment Research raised shares of HNI Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Finally, BidaskClub downgraded shares of HNI Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $44.50.

In other HNI Corporation news, Chairman Stanley A. Askren sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $37.78, for a total value of $453,360.00. Following the completion of the sale, the chairman now owns 216,996 shares of the company’s stock, valued at $8,198,108.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 36,000 shares of company stock valued at $1,399,680 in the last ninety days. 5.16% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of HNI. UBS Asset Management Americas Inc. grew its position in HNI Corporation by 51.1% in the first quarter. UBS Asset Management Americas Inc. now owns 21,443 shares of the business services provider’s stock valued at $988,000 after acquiring an additional 7,256 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in HNI Corporation by 1.4% in the first quarter. Parametric Portfolio Associates LLC now owns 88,302 shares of the business services provider’s stock valued at $4,070,000 after acquiring an additional 1,244 shares in the last quarter. JPMorgan Chase & Co. grew its position in HNI Corporation by 293.5% in the first quarter. JPMorgan Chase & Co. now owns 169,984 shares of the business services provider’s stock valued at $7,834,000 after acquiring an additional 126,783 shares in the last quarter. Prudential Financial Inc. grew its position in HNI Corporation by 89.7% in the first quarter. Prudential Financial Inc. now owns 83,607 shares of the business services provider’s stock valued at $3,853,000 after acquiring an additional 39,530 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in HNI Corporation by 64.9% in the first quarter. SG Americas Securities LLC now owns 6,846 shares of the business services provider’s stock valued at $316,000 after acquiring an additional 2,695 shares in the last quarter. 69.20% of the stock is owned by institutional investors.

HNI Corporation (HNI) opened at 34.38 on Wednesday. The stock has a 50 day moving average of $39.90 and a 200 day moving average of $40.57. HNI Corporation has a 1-year low of $31.16 and a 1-year high of $56.94. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 24.70 and a beta of 1.46.

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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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