Zacks: Brokerages Expect Herman Miller, Inc. (MLHR) Will Post Quarterly Sales of $606.90 Million
Brokerages forecast that Herman Miller, Inc. (NASDAQ:MLHR) will post $606.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Herman Miller’s earnings, with estimates ranging from $604.80 million to $609.00 million. Herman Miller posted sales of $577.50 million during the same quarter last year, which suggests a positive year over year growth rate of 5.1%. The company is expected to report its next earnings report on Wednesday, December 20th.
On average, analysts expect that Herman Miller will report full-year sales of $606.90 million for the current financial year. For the next fiscal year, analysts expect that the firm will report sales of $2.45 billion per share. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Herman Miller.
Herman Miller (NASDAQ:MLHR) last posted its earnings results on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The firm had revenue of $580.30 million during the quarter, compared to analysts’ expectations of $578.27 million. During the same period last year, the company posted $0.60 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year.
MLHR has been the subject of several analyst reports. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Zacks Investment Research raised shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, September 26th. Finally, BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $38.00.
In other news, EVP Michael F. Ramirez sold 4,091 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $33.98, for a total transaction of $139,012.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stephen C. Gane sold 10,686 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $36.01, for a total value of $384,802.86. Following the transaction, the senior vice president now directly owns 21,985 shares of the company’s stock, valued at $791,679.85. The disclosure for this sale can be found here. Insiders have sold a total of 86,407 shares of company stock valued at $2,980,652 over the last three months. Corporate insiders own 1.91% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC lifted its stake in Herman Miller by 67.9% during the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after purchasing an additional 1,494 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock valued at $123,000 after buying an additional 181 shares during the last quarter. First Bank & Trust lifted its stake in Herman Miller by 4.1% in the second quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock valued at $121,000 after buying an additional 158 shares during the last quarter. Sei Investments Co. lifted its stake in Herman Miller by 0.6% in the second quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after buying an additional 26 shares during the last quarter. Finally, LS Investment Advisors LLC lifted its stake in Herman Miller by 17.5% in the second quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock valued at $146,000 after buying an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 84.20% of the company’s stock.
Herman Miller (MLHR) opened at 35.00 on Monday. Herman Miller has a 12 month low of $27.02 and a 12 month high of $37.00. The company’s 50-day moving average is $35.13 and its 200-day moving average is $33.22. The stock has a market capitalization of $2.09 billion, a PE ratio of 17.50 and a beta of 1.46.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Saturday, December 2nd will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.06%. Herman Miller’s dividend payout ratio is presently 36.00%.
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Herman Miller Company Profile
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