Zacks: Analysts Anticipate HNI Corporation (HNI) Will Post Quarterly Sales of $565.00 Million

Brokerages expect HNI Corporation (NYSE:HNI) to announce $565.00 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for HNI’s earnings, with the lowest sales estimate coming in at $559.30 million and the highest estimate coming in at $570.70 million. HNI reported sales of $581.29 million in the same quarter last year, which indicates 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 financial year, analysts anticipate 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 an average based on a survey of sell-side research firms that follow HNI.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded HNI from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 26th. Raymond James Financial reaffirmed a “market perform” rating on shares of HNI in a research report on Tuesday, October 24th. Finally, Rowe lowered HNI from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 24th. Two investment 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. HNI currently has an average rating of “Hold” and an average price target of $39.67.

HNI (NYSE HNI) opened at $39.43 on Tuesday. HNI has a 1-year low of $31.16 and a 1-year high of $52.30. The company has a quick ratio of 0.74, a current ratio of 1.08 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1,710.00, a P/E ratio of 26.46 and a beta of 1.49.

In related news, CEO Stanley A. Askren sold 3,021 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $35.07, for a total transaction of $105,946.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ronald V. Waters sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,375 shares of company stock valued at $1,027,081. Corporate insiders own 5.16% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. increased its position in HNI by 271.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the business services provider’s stock valued at $108,000 after buying an additional 1,900 shares in the last quarter. SG Americas Securities LLC increased its position in HNI by 18.6% during the 3rd quarter. SG Americas Securities LLC now owns 16,463 shares of the business services provider’s stock valued at $683,000 after buying an additional 2,586 shares in the last quarter. New York State Common Retirement Fund grew its stake in HNI by 51.8% during the 3rd 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 last quarter. Rhumbline Advisers grew its stake in HNI by 8.9% during the 3rd 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 last quarter. Finally, Systematic Financial Management LP grew its stake in HNI by 1.2% during the 3rd 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 last quarter. 69.66% of the stock is currently owned by 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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