$565.00 Million in Sales Expected for HNI Corporation (HNI) This Quarter

Brokerages expect HNI Corporation (NYSE:HNI) to report $565.00 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for HNI’s earnings. The highest sales estimate is $570.70 million and the lowest is $559.30 million. HNI posted sales of $581.29 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.8%. The company is scheduled to announce its next quarterly earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that HNI will report full-year sales of $565.00 million for the current fiscal year, with estimates ranging from $2.15 billion to $2.16 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.23 billion per share, with estimates ranging from $2.23 billion to $2.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover HNI.

HNI (NYSE:HNI) last released its quarterly earnings data on Monday, October 23rd. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. The business had revenue of $599.50 million for the quarter, compared to the consensus estimate of $585.07 million. HNI had a net margin of 3.08% and a return on equity of 21.09%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS.

HNI has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of HNI from a “hold” rating to a “strong sell” rating in a report on Thursday, October 26th. Rowe downgraded shares of HNI from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 24th. Raymond James Financial reissued a “market perform” rating on shares of HNI in a report on Tuesday, October 24th. UBS raised shares of HNI from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 23rd. Finally, Citigroup raised shares of HNI to an “outperform” rating and set a $42.00 price target on the stock in a report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $44.50.

Shares of HNI (NYSE HNI) opened at $34.24 on Friday. The company has a market cap of $1,486.94, a price-to-earnings ratio of 14.76 and a beta of 1.50. The company has a quick ratio of 0.74, a current ratio of 1.08 and a debt-to-equity ratio of 0.59. HNI has a twelve month low of $31.16 and a twelve month high of $56.94.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 20th were issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, November 17th. HNI’s dividend payout ratio (DPR) is presently 76.00%.

In related news, Chairman Stanley A. Askren sold 12,000 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $37.78, for a total transaction of $453,360.00. Following the sale, the chairman now directly owns 216,996 shares of the company’s stock, valued at $8,198,108.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.16% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in HNI. Fuller & Thaler Asset Management Inc. raised its position in HNI by 271.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the business services provider’s stock worth $108,000 after acquiring an additional 1,900 shares during the period. SG Americas Securities LLC raised its position in HNI by 102.7% during the second quarter. SG Americas Securities LLC now owns 13,877 shares of the business services provider’s stock worth $553,000 after acquiring an additional 7,031 shares during the period. New York State Common Retirement Fund raised its position in HNI by 51.8% during the third quarter. New York State Common Retirement Fund now owns 71,200 shares of the business services provider’s stock worth $2,953,000 after acquiring an additional 24,300 shares during the period. Rhumbline Advisers raised its position in HNI by 8.9% during the third quarter. Rhumbline Advisers now owns 95,340 shares of the business services provider’s stock worth $3,954,000 after acquiring an additional 7,783 shares during the period. Finally, Systematic Financial Management LP raised its position in HNI by 1.2% during the third quarter. Systematic Financial Management LP now owns 149,799 shares of the business services provider’s stock worth $6,212,000 after acquiring an additional 1,790 shares during the period. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

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

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