FY2017 EPS Estimates for HNI Corporation (HNI) Lowered by Analyst
HNI Corporation (NYSE:HNI) – Equities research analysts at Seaport Global Securities reduced their FY2017 earnings per share estimates for HNI Corporation in a report issued on Tuesday. Seaport Global Securities analyst M. Mccall now forecasts that the business services provider will earn $1.94 per share for the year, down from their prior estimate of $2.45. Seaport Global Securities also issued estimates for HNI Corporation’s Q4 2017 earnings at $0.44 EPS, Q4 2018 earnings at $0.64 EPS, FY2018 earnings at $2.40 EPS and FY2019 earnings at $2.80 EPS.
Several other analysts have also issued reports on the company. Zacks Investment Research lowered HNI Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday. Raymond James Financial, Inc. restated a “market perform” rating on shares of HNI Corporation in a research note on Tuesday. Rowe lowered HNI Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Citigroup Inc. upgraded HNI Corporation to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Wednesday, August 23rd. Finally, UBS AG upgraded HNI Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 23rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. HNI Corporation presently has a consensus rating of “Hold” and a consensus target price of $44.50.
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HNI Corporation (NYSE:HNI) opened at 35.75 on Friday. The company has a market capitalization of $1.57 billion, a P/E ratio of 25.68 and a beta of 1.46. The firm has a 50-day moving average price of $39.90 and a 200 day moving average price of $40.54. HNI Corporation has a 12 month low of $31.16 and a 12 month high of $56.94.
HNI Corporation (NYSE:HNI) last issued its quarterly earnings results on Monday, October 23rd. The business services provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The company had revenue of $599.50 million for the quarter, compared to the consensus estimate of $585.07 million. HNI Corporation had a return on equity of 21.09% and a net margin of 3.08%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of HNI Corporation by 22,922.7% during the first quarter. BlackRock Inc. now owns 4,523,960 shares of the business services provider’s stock worth $208,510,000 after purchasing an additional 4,504,310 shares during the period. Vanguard Group Inc. increased its stake in shares of HNI Corporation by 6.9% during the first quarter. Vanguard Group Inc. now owns 3,870,218 shares of the business services provider’s stock worth $178,379,000 after purchasing an additional 251,212 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of HNI Corporation by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,059,270 shares of the business services provider’s stock worth $48,820,000 after purchasing an additional 17,867 shares during the period. Dalton Greiner Hartman Maher & Co. increased its stake in shares of HNI Corporation by 325.9% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 421,823 shares of the business services provider’s stock worth $16,818,000 after purchasing an additional 322,791 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of HNI Corporation by 10.6% during the first quarter. Geode Capital Management LLC now owns 355,323 shares of the business services provider’s stock worth $16,376,000 after purchasing an additional 34,056 shares during the period. Institutional investors own 69.20% of the company’s stock.
In other 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 transaction, the chairman now owns 216,996 shares in the company, valued at $7,907,334.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 36,000 shares of company stock worth $1,399,680. 5.16% of the stock is owned by corporate insiders.
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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