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.

Earnings History and Estimates for HNI Corporation (NYSE:HNI)

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