Analysts Anticipate HNI Corporation (HNI) Will Announce Quarterly Sales of $565.00 Million

Brokerages forecast that HNI Corporation (NYSE:HNI) will report sales of $565.00 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for HNI’s earnings. The lowest sales estimate is $559.30 million and the highest is $570.70 million. HNI reported sales of $581.29 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.8%. The firm is expected to issue 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 year, with estimates ranging from $2.15 billion to $2.16 billion. For the next financial year, analysts expect that the business will report 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 an average based on a survey of research firms that follow HNI.

HNI (NYSE:HNI) last issued its earnings results on Monday, October 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $599.50 million for the quarter, compared to analyst estimates of $585.07 million. HNI had a net margin of 3.08% and a return on equity of 21.09%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of HNI from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Raymond James Financial reiterated a “market perform” rating on shares of HNI in a research note on Tuesday, October 24th. Finally, Rowe lowered shares of HNI from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.50.

In related news, CEO Stanley A. Askren sold 3,032 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $34.62, for a total transaction of $104,967.84. Following the sale, the chief executive officer now owns 213,020 shares in the company, valued at $7,374,752.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Stanley A. Askren sold 12,000 shares of the stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $42.42, for a total transaction of $509,040.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,375 shares of company stock worth $1,336,121. 5.16% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC increased its stake in shares of HNI by 2.2% in the third quarter. Frontier Capital Management Co. LLC now owns 1,048,786 shares of the business services provider’s stock valued at $43,493,000 after purchasing an additional 22,330 shares during the period. Russell Investments Group Ltd. increased its stake in shares of HNI by 5,066.3% in the third quarter. Russell Investments Group Ltd. now owns 240,441 shares of the business services provider’s stock valued at $9,972,000 after purchasing an additional 235,787 shares during the period. Systematic Financial Management LP increased its stake in shares of HNI by 1.2% in the third quarter. Systematic Financial Management LP now owns 149,799 shares of the business services provider’s stock valued at $6,212,000 after purchasing an additional 1,790 shares during the period. Rhumbline Advisers increased its stake in shares of HNI by 8.9% in the third quarter. Rhumbline Advisers now owns 95,340 shares of the business services provider’s stock valued at $3,954,000 after purchasing an additional 7,783 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of HNI by 51.8% in the third quarter. New York State Common Retirement Fund now owns 71,200 shares of the business services provider’s stock valued at $2,953,000 after purchasing an additional 24,300 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Shares of HNI (HNI) opened at $38.37 on Friday. The stock has a market cap of $1,660.00, a PE ratio of 25.75 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.08 and a quick ratio of 0.74. HNI has a 12 month low of $31.16 and a 12 month high of $53.37.

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About HNI

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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